ATLANTA -- Genuine Parts Co. (GPC) announced this week that its Industrial Parts Group, Motion Industries, has entered into a definitive agreement to acquire substantially all of the North American assets of BC Bearing (BC Bearing, US Bearings and Norcan), headquartered in Vancouver, British Columbia. BC Bearing is a family owned bearing and power transmission distributor operating 53 branches throughout western Canada and the northwestern U.S.

Subject to regulatory approval, the company expects the purchase to close on or around March 1, 2010, and generate annual revenues of approximately $185 million (CDN).

Commenting on the acquisition, Thomas Gallagher, chairman, president and chief executive officer of Genuine Parts Co., stated, "The acquisition of BC Bearing allows Motion Industries to continue its expansion in Canada and the northwestern U.S., where we see significant growth opportunities. BC Bearing is a highly regarded company with a strong management team and an excellent reputation among its commercial customer base. We believe the superior product offering and service capabilities created by the combined operations of Motion Industries and BC Bearing will serve to benefit these customers, as well as the entire marketplace."