Advance Auto Parts was founded in 1932 by Arthur Taubman purchased two Advance Auto stores from Pep Boys. One was located in Roanoke and the second in Lynchburg, Virginia. The company began acquiring other automotive parts stores, including Western Auto in 1998 and Carport Auto Parts in 2001. The company’s largest acquisition to date is CarQuest, which was purchased in 2013 for $2.3 billion.
Advance Auto Parts is the largest retailer of automotive parts in the U.S. The company has more than 3,800 stores in the U.S. and more than 55,000 employees. In 2014, the company began a loyalty program called SpeedPerks, in which customers receive discounts off purchases. Purchases of more than $30 earn coupons of between $5 and $20 off future purchases.
Advance Auto Parts is publicly traded on the New York Stock Exchange under the ticker symbol: AAP.