Advance Auto Parts Acquires DieHard Brand
Advance Auto Parts, Inc. has acquired the DieHard brand from Transform Holdco LLC (“Transformco”) for $200 million.
The deal allows Advance Auto Parts to sell DieHard batteries and extend the DieHard brand into other automotive and vehicular categories.
In addition, the transaction allows Transformco to sell DieHard brand batteries through its existing channels pursuant to a supply agreement with Advance. Advance is also granting Transformco an exclusive royalty-free, perpetual license to develop, market, and sell DieHard branded products in non-automotive categories.
“We are excited to acquire global ownership of an iconic American brand. DieHard will help differentiate Advance, drive increased DIY customer traffic and build a unique value proposition for our professional customers and independent Carquest partners. DieHard has the highest brand awareness and regard of any automotive battery brand in North America and will enable Advance to build a leadership position within the critical battery category,” said Tom Greco, president and CEO, Advance Auto Parts.
Greco said the company will leverage the DieHard brand in other battery categories, such as marine and recreational vehicles as well as extend it in other automotive categories. “The addition of DieHard to our industry leading assortment of national brands, OE parts and owned brands will enable us to differentiate Advance and drive significant long-term shareholder value.”
Peter Boutros, president of Transformco’s Kenmore, Craftsman and DieHard business unit, said his company believes the brand has potential in markets beyond automotive service.
“Advance Auto Parts’ acquisition of this iconic American brand will complement our plans to introduce new DieHard products in non-automotive categories such as sporting goods, lawn and garden, authentic work wear and other exciting new categories,” said Boutros.
About Advance Auto Parts
Advance Auto Parts, Inc. provides automotive aftermarket parts for professional installers and do-it-yourself customers through its network of stores, and independently owned locations.
As of Oct. 5, 2019, Advance Auto Parts operated 4,891 stores and 152 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The company also serves 1,260 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands.
For more information, visit www.AdvanceAutoParts.com.
Transformco is the parent company of Sears and Kmart.