Advance Auto Parts, Inc. is an American automotive aftermarket parts provider. Headquartered in Raleigh, North Carolina, it serves both professional installers and do-it-yourself customers.
Who owns Advance Auto Parts?
In 1932, Arthur Taubman purchased the Advance Stores from Pep Boys, with two stores in Roanoke, Virginia, and one in Lynchburg, Virginia. The first major expansion of Advance Auto Parts was in 1998 when the company acquired the remaining operations of Western Auto, an auto parts and general store retailer. Most of the Western Auto operations had been taken over by Sears, Roebuck, and Co. in 1987.
On April 4, 2016, Advance announced Frito-Lay North America CEO Tom Greco would succeed Jackson as CEO. While Advance stock declined throughout 2016 and 2017, the stock has seen a strong recovery as the company’s five-year transformation plan progresses. In 2018, Advance was the #4 top-performing stock of the S&P 500.
As of 2018, Advance Auto Parts shares are mainly held by institutional investors like Vanguard Group Inc (10.25%) BlackRock Fund Advisors (5.18%) Barrow, Hanley, Mewhinney & Strauss (4.47%) State Street Corp(4.43%) Starboard Value LP (4.36%)
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