Advance Auto Parts acquires DieHard brand from Sears parent for $200 million

December 23, 2019 01:34 PM UPDATED 15 HOURS AGO
Advance Auto Parts acquires DieHard brand from Sears parent for $200 million
SARAH KOMINEK

Advance Auto Parts Inc., one of the largest U.S. aftermarket parts retailers, bought the DieHard battery brand from Transform Holdco LLC, the parent company for Sears and Kmart, Advance announced Monday.

The retailer purchased the brand for $200 million in cash, according to a press release.

The deal, which will allow Advance to sell DieHard batteries, also allows Transformco to sell the brand “through its existing channels pursuant to a supply agreement with Advance,” the release said.

Transformco also was granted a royalty-free license to develop, market and sell DieHard products in non-automotive categories.

“We are excited to acquire global ownership of an iconic American brand,” Tom Greco, president and CEO of Advance Auto Parts, said in the release. “DieHard will help differentiate Advance, drive increased DIY customer traffic and build a unique value proposition for our professional customers and independent Carquest partners.”

“We also see opportunities to extend DieHard in other automotive categories,” Greco added. “We remain committed to providing our customers with high-quality products and excellent service. 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.”

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