From MEMA Industry News
General Parts Inc. of Raleigh, NC, will acquire Worldwide Auto Parts Inc. of San Diego, CA, this week, according to a report from the MEMA Financial Services Group Inc. (MFSG), the commercial subsidiary of MEMA.
GPI has signed an agreement which provides for the purchase of all outstanding shares of Worldwide Auto Parts by General Parts subsidiary Golden State Supply, Inc. The closing is expected to be completed this week.
Worldwide Auto Parts will become a subsidiary of Golden State Supply, MFGS noted. This is an acquisition of stock, which means all trade liabilities will be assumed by the acquiring company.
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