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The Biggest Retailer of Auto Parts in North America

 (Image source: crazytowndeals)

Advance Auto Parts, Inc. (NYSE:AAP) will acquire General Parts International for $2.04 billion. The acquisition will create the biggest retailer of auto replacement parts in North America with combined revenues of more than $9.2 billion. Combined revenues from the acquisition would be in the same sphere as AutoZone, Inc. (NYSE:AZO), the giant of the industry. According to the press release, the deal will produce annual savings of $160 million over three years. The stock is up nearly 18 percent in current trading. It will be interesting to see how the new company forges ahead when the percentage of consumers buying new vehicles is upwardly sloping.