ATLANTA — Genuine Parts Co.’s (GPC) Industrial Parts Group, Motion Industries, has acquired Drago Supply Co., a regional industrial supplies distributor headquartered in Port Arthur, Texas. Drago Supply was founded in 1931 and has eight locations in Texas, Arkansas and Louisiana.
The company expects the purchase to generate annual revenues of approximately $75 million.
Thomas Gallagher, chairman, president and chief executive officer of Genuine Parts Co., stated, “The acquisition of Drago allows Motion Industries to continue its expansion in the industrial supplies market, an area where we see significant growth opportunities. Drago is a well-established company with an excellent reputation among its industrial and commercial customer base throughout the south central United States. Together, Motion Industries and Drago are positioned to become a leading provider of industrial supplies across the United States.”
This is the second acquisition GPC has made in recent weeks. On Aug. 18, GPC announced that its Office Products Group, S.P. Richards Co., signed a definitive agreement to purchase the Midwestern U.S. business assets of ActionEmco, a regional office products wholesale distributor. The acquisition is expected to generate annual revenues of approximately $50 million.