Genuine Parts Company (NYSE: GPC) announced today an acquisition for its European automotive business. Effective July 31, Alliance Automotive Group (AAG), the company’s wholly-owned automotive distribution company based in London, U.K., acquired Recambios y Accesorios Gaudí, S.L. (Gaudi), an independent player in Spain with 22 stores operating mainly in the Catalonia and Madrid regions.
Gaudi, founded in 1989, has expanded over the years through a combination of organic growth and numerous store openings, achieving annual revenues of approximately €100 million ($110 million USD). These results reflect the expertise of the Gaudi team and its 350 employees across all vehicle segments in the automotive sector, GPC said.
“We are pleased to expand our European automotive footprint with the addition of Gaudi,” said Paul Donahue, chairman and CEO of GPC. “With this acquisition, we are broadening our leadership position in Spain, Europe’s fifth largest automotive market, while extending the opportunities for rollout of the NAPA brand and enhancing the profitability of our European business.
“The synergies provided by this transaction will enable us to grow more effectively and allow us to provide even greater customer service throughout the country. We welcome the Gaudi team to the GPC and AAG family and are excited to work together to maximize the growth opportunities in our European business,” continued Donahue.
The addition of Gaudi further builds on AAG Iberia’s strategic foothold in the automotive aftermarket, previously represented by Lausan in Spain and Soulima in Portugal.
