Mergers & Acquisitions

Roanoke, Va. -- Advance Auto Parts will acquire General Parts International, a privately held parts maker. The all-cash deal has an enterprise value of $2.04 billion.

Based in Raleigh, N.C., General Parts, which owns the Carquest brand, has 1,246 company operated stores in North America. It also operates 1,418 independently owned Carquest locations primarily in the United States and Canada.

Woonsocket, R.I. - The first MinuteClinic walk-in medical clinics in Northern California and the Bay Area have opened inside select CVS/pharmacy stores in Santa Clara and San Mateo counties. Three MinuteClinic locations are now operating in Foster City, San Jose, and Sunnyvale CVS/pharmacy stores.  

By Todd Maute, [email protected]

Advance Auto Parts plans to acquire General Parts International in an all-cash transaction worth $2.04 billion. The transaction has been approved by the boards of directors of both companies.

General Parts International is a leading privately held distributor and supplier of original equipment and aftermarket replacement products for commercial markets operating under the Carquest and Worldpac brands.

Chattanooga, Tenn. — CBL & Associates Properties, Inc. has closed on an $80 million non-recourse loan secured by The Outlet Shoppes at Atlanta, a 75/25 joint venture with Horizon Group Properties. The 10-year loan bears a 4.9% fixed interest rate. Proceeds from the loan were used to repay a $53.2 million recourse construction loan. CBL www.cblproperties.com used its share of the remaining funds to reduce outstanding balances on the company’s unsecured credit facilities.

Plano, Texas – Law firm Wites & Kaplan, P.A. says class-action lawsuits have been filed that allege that JC Penny Company, Inc. and certain of its officers and directors committed violations of the Securities Exchange Act of 1934.

San Francisco – Gap Inc. has reportedly signed a non-binding agreement for Australia-based Oroton Group to take control of its franchise operation in Australia, New Zealand, and some Pacific islands. According to the Wall Street Journal, Oroton Group will start running Gap’s three franchise stores in Australia in November 2013 and purchase some inventory and store fixtures from current Gap franchisee Brand Republic Pty Ltd.

Payments industry executive, Lisa Shipley, is joining Transaction Network Services (TNS) as head of global strategy for the company’s payments division.

In the newly created role, Shipley will be responsible for setting the strategic direction for the division. Shipley, who will be based at the company’s headquarters in Reston, Va., will also work closely with TNS’ product, sales, development and operations teams across the Americas, Europe and Asia Pacific regions to ensure the consistent execution of the strategy worldwide.