Genuine Parts Co. Announces Industrial And Automotive Acquisitions
These latest acquisitions come on the heels of the news that GPC’s SP Richard’s business was given notice that its proposed merger with Essendant was called off, after the company received what it believed to be a better offer from Staples.
Genuine Parts Co. Reports That Essendant Calls Off Merger Agreement
In April, GPC entered into a definitive agreement to combine Essendant and Genuine Parts Co.’s S.P. Richards business. A termination fee will be paid to GPC for the failed merger.
Genuine Parts Co. Announces Officer Changes
In addition, GPC announced that the company is mourning the passing of Timothy Breen, president and CEO of Motion Industries.
Genuine Parts Co. Reports Record Sales And Earnings For The Second Quarter
The company has reported record sales of $4.8 billion, up 18 percent.
GPC Announces Automotive Acquisition In Germany
GPC’s Alliance Automotive Group has entered into a definitive agreement to acquire Germany’s Hennig Fahrzeugteile Group. Paul Donahue, CEO of Genuine Parts Co., said, “the addition of this business serves to further expand our presence and scale in Europe as we build on our global growth strategy.”
Longtime GPC Chairman And CEO Wilton Looney Passes Away
Wilton Denny Looney passed away on June 1, at the age of 99. When Wilton retired from GPC in 1990, he handed the reins to Larry Prince, but continued to maintain an office at company headquarters and attend every board meeting for the next 28 years, totaling almost 80 years with his beloved company, according to the Atlanta Journal-Constitution.
Staples Takes A Run At GPC’s Essendant Merger
Genuine Parts Co. issued comments on its definitive merger agreement with Essendant following Staples’ conditional, non-binding proposal to acquire Essendant.
Genuine Parts Co. Reports Sales And Earnings For The 1st Quarter
Sales for the first quarter were a record $4.6 billion, a 17.4 percent increase compared to $3.9 billion for the same period in 2017.
GPC Merges Its S.P. Richards Business With Another National Business Products Distributor
The merger is expected to deliver approximately $75 million in annual run-rate synergies and establish enhanced financial profile to drive more profitable growth and value for shareholders.
Genuine Parts Co. Announces Industrial And Automotive Acquisitions
Paul Donahue, president and CEO, said, “This strategic acquisition expands our automotive store footprint and fills a significant void for us in the greater Rochester marketplace.”
Genuine Parts Co. Enters Definitive Agreement To Acquire Europe’s Alliance Automotive Group
The acquisition is valued at a total purchase price of approximately $2 billion, including the repayment of AAG’s outstanding debt upon closing.
Genuine Parts Co. Reports Sales And Earnings For The 2nd Quarter
The company reports record sales of $4.1 billion and earnings per share of $1.29.