Advance Auto Parts history

1969: Arthur Taubman retires and son Nicholas Taubman assumes control.

In 1978 the company changed its name from Advance Stores to Advance Auto and took other steps to become a high-volume retailer of auto parts.

In 1985 Taubman reached his original goal of 100 stores, but by now he began to envision the creation of a much larger company.

By 1988, the 185,000 square foot Roanoke Distribution Center opened, allowing Advance to expand so rapidly that by the end of the 80s they had become the fastest growing aftermarket parts retailer in the country.

Together they launched an aggressive expansion program, so that by 1991 the chain included 211 stores, making it the country's eighth largest auto parts retailer.

By the end of 1993 the chain included 352 stores located in eight states, and was now one of the fastest growing auto parts retailers in the country.

Sadly, founder Arthur Taubman passed away in Boca Raton, Florida in 1994, but the company he founded went on to thrive.

Although the clear preference was to build new stores, in early 1995 Advance grew by external means, buying 30 Georgia stores of Columbus, Ohio-based Nationwise Auto Parts, bringing the total number of Advance units to more than 500.

By the middle of 1996 Advance owned 660 stores, generating an estimated $808 million in annual revenues.

In September 1997 Taubman stepped down as CEO in favor of Smith, although he stayed on as chairman of the board.

1998: The company is sold to Freeman Spogli & Co.

At the end of 1999 Smith retired after 43 years with Advance, citing a desire to spend more time with his ailing wife, although he remained on the company's board of directors.

Moreover, by buying Discount, Advance's holding company, Advance Holding Corp., became a public company, which began trading on the New York Stock Exchange in November 2001.

To attain 57 Trak Auto stores in Washington DC, eastern Maryland, and Northern Virginia, Advance Auto Parts even got a bankruptcy court’s approval in July 2002.

By the start of 2003 it appeared that Advance had successfully digested the Discount acquisition.

Advance Auto Parts bought Auto Part International Inc. in the year 2005, which operated 202 stores along the Atlantic Seaboard.

In 2006, the 3,000th store opened in Salina, Kansas.

In December 2012, Advance Auto Parts acquired BWP Distributors, a Carquest franchise for the New England region that included the transfer of 124 company owned retail locations plus 2 distribution centers.

Advance Auto Parts also bought General Parts Inc., along with Carquest Canada and WorldPac, by paying a price of $2.04 billion in 2013.

On September 30, 2015, Starboard Value LP, an activist investment firm disclosed a 3.7 percent stake in Advance Auto Parts.

The shares of Advance Auto Parts are primarily held by the institutional investors as of 2017.

In October 2018, Advance and Walmart announced a strategic omnichannel partnership that will create an automotive specialty store on Walmart.com.

On December 23, 2019, it was announced that Advance Auto Parts would be purchasing the DieHard battery brand from Sears.

To promote the acquisition and availability of the brand at Advance and Carquest, Advance hired actor Bruce Willis to be part of a promotional film in-character as John McClane from the film Die Hard, which was released during the 2020 holiday season.