ROANOKE, Va. (July 27, 2005) — Advance Auto Parts Inc. an aftermarket retailer of parts, accessories, batteries and maintenance items, has acquired nearly all of the assets of Boston-based Lappen Auto Supply Co. Inc.'s auto parts division.
The deal gives Roanoke-based Advance Auto 19 auto parts stores in the greater Boston area. Lappen will retain ownership and continue to operate its garage equipment division, which services Massachusetts, New Hampshire and Rhode Island.
Advance Auto anticipates converting Lappen's stores to Advance Auto´s 2010 format over the next several months. Advance Auto said it also expects its new-store count for 2005 to be at the higher end of its previously announced range of 150 to 175.
“We are extremely pleased to welcome Lappen's auto parts team members and customers to the Advance Auto Parts team,” said Jim Wade, executive vice president, business development.
“Lappen has been very successful in both the do-it-yourself retail and do-it-for-me commercial auto parts business for many years, and their business model and geography are highly complementary to ours. We believe the combination of our two companies can make us even more successful as we go forward.”