Paul Donahue, chairman and CEO, said GPC’s Q3 was highlighted by double-digit earnings growth.
Sales in 2021 were $18.9 billion, a 14.1% increase from $16.5 billion for the same period in 2020.
Carol Yancey to retire as executive vice president and CFO; Bert Nappier to join as EVP and chief financial officer-elect.
The 2020 Annual Meeting of Shareholders of Genuine Parts Co. has been changed to a virtual only format.
GPC says the sale represents the next step forward in its portfolio optimization strategy.
Genuine Parts Co. Enters Into Definitive Agreement To Complete Acquisition Of Leading Industrial Distributor In Australasia
The company previously purchased a 35% stake in Inenco on April 3, 2017, and held the opportunity to acquire the remaining stake at a later date, subject to certain conditions being satisfied.
GPC’s Alliance Automotive Group enters definitive agreement to acquire Netherlands-based PartsPoint Group.
GPC announced that fourth quarter sales increased 9 percent to $4.6 billion.
GPC has expanded its Automation Solutions Group with the acquisition of Axis New England and Axis New York, adding approximately $55 million in annual revenues.
Napoleon Rutledge Jr. was named senior vice president of finance, and Derek Goshay was appointed vice president of safety and sustainability.
Fourth quarter sales were $4.2 billion, up 11 percent, and full year sales were $16.3 billion, up 6 percent.
AAG is the second largest parts distribution platform in Europe, with a focus on light vehicle and commercial vehicle replacement parts.