Genuine Parts Co. (GPC) announced today an acquisition for its European Automotive business.
Alliance Automotive Group (AAG), the company’s wholly owned automotive distribution company based in London has entered into a definitive agreement to acquire Todd Group (Todd). The transaction is expected to close in the fourth quarter of 2019 and is contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals.
Todd, based in Normandy, France, is a leading distributor of truck parts and accessories for the independent heavy-duty aftermarket. Through a national network of 35 branches, Todd serves its customers with parts and services for all brands of trucks, trailers, semi-trailers, buses and commercial vehicles. The company expects the acquired business to generate annual revenues of approximately $85 million.
Paul Donahue, chairman and CEO of GPC, noted that the heavy-duty market has largely avoided the economic and other pressures in Europe and continues to grow at solid rates. “Todd is an excellent organization with a rich history dating back to 1975, and we are excited to work together to grow our heavy-duty business in France,” Donahue said.
Jean-Jacques Lafont, CEO of Alliance Automotive Group, added, “The addition of Todd complements the AAG network and builds on our industry-leading position as the largest distributor to the independent heavy-duty aftermarket in France. We look forward to closing this transaction and welcoming the Todd team to AAG.”