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Genuine Parts Co. Announces Automotive Acquisitions In The U.K.

The Alliance Automotive Group, the company’s wholly owned automotive distribution company based in London, has completed the acquisitions of two automotive businesses: U.K.-based Platinum International Group Limited and TMS Motor Spares Ltd.

Genuine Parts Co. Announces Industrial And Automotive Acquisitions

These latest acquisitions come on the heels of the news that GPC’s SP Richard’s business was given notice that its proposed merger with Essendant was called off, after the company received what it believed to be a better offer from Staples.

Genuine Parts Co. Reports That Essendant Calls Off Merger Agreement

In April, GPC entered into a definitive agreement to combine Essendant and Genuine Parts Co.’s S.P. Richards business. A termination fee will be paid to GPC for the failed merger.

Genuine Parts Co. Announces Officer Changes

In addition, GPC announced that the company is mourning the passing of Timothy Breen, president and CEO of Motion Industries.

Genuine Parts Co. Reports Record Sales And Earnings For The Second Quarter

The company has reported record sales of $4.8 billion, up 18 percent.

Genuine Parts Co. Reports Sales And Earnings For The 1st Quarter

Sales for the first quarter were a record $4.6 billion, a 17.4 percent increase compared to $3.9 billion for the same period in 2017.

Genuine Parts Co. Reports 2017 Sales And Earnings For The 4th Quarter And Full Year

Fourth quarter sales were $4.2 billion, up 11 percent, and full year sales were $16.3 billion, up 6 percent.

Genuine Parts Co. Completes Acquisition Of Europe’s Alliance Automotive Group

AAG is the second largest parts distribution platform in Europe, with a focus on light vehicle and commercial vehicle replacement parts.

Genuine Parts Co. Announces Industrial And Automotive Acquisitions

Paul Donahue, president and CEO, said, “This strategic acquisition expands our automotive store footprint and fills a significant void for us in the greater Rochester marketplace.”

Genuine Parts Co. Enters Definitive Agreement To Acquire Europe’s Alliance Automotive Group

The acquisition is valued at a total purchase price of approximately $2 billion, including the repayment of AAG’s outstanding debt upon closing.