Genuine Parts enters agreement to acquire Dutch based PartsPoint Group
ATLANTA/PRNewswire/ -- Genuine Parts Company (GPC) announced 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 PartsPoint Group (PartsPoint). The transaction is expected to close on June 1, contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals.
PartsPoint Group, headquartered in Ede, Netherlands, is a leading distributor of automotive aftermarket parts and accessories in the Benelux. Through a network of one national distribution center, six regional warehouses and 147 branches, PartsPoint serves many thousands of customers across the Netherlands and Belgium, predominantly independent garages and wholesalers. The company expects the acquired business to generate annual revenues of approximately $330 million.
Paul Donahue, President and Chief Executive Officer of Genuine Parts Company, stated, "PartsPoint Group is a leading supplier of automotive parts and accessories in the Benelux marketplace, and we are pleased to expand our European footprint into this region with such an outstanding organization. We are excited for the opportunities we see in the Netherlands and Belgium, and we look forward to the many contributions the PartsPoint team will make in the years ahead."
Jean-Jacques Lafont, Chief Executive Officer of Alliance Automotive Group added, "PartsPoint Group is an excellent strategic fit for AAG and an important milestone in our growth strategy in Europe. PartsPoint has a strong and talented management team and we look forward to supporting their long-term growth plans. We welcome the addition of PartsPoint to AAG."
About Genuine Parts Company
Genuine Parts Company (www.genpt.com) is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany and Poland. The Company also distributes industrial replacement parts and electrical specialty materials in the U.S., Canada and Mexico through its Industrial Products Group. S.P. Richards Company, the Business Products Group, distributes a variety of business products in the U.S. and Canada. Genuine Parts Company had 2018 revenues of $18.7 billion.
About Alliance Automotive Group
Alliance Automotive Group (www.allianceautomotivegroup.eu) is a leading distributor of light and commercial vehicle parts to the independent aftermarket in France, Germany, the U.K., and Poland, doing business under the Groupauto France, Précisium, Partners and Gef'Auto brands in France, Groupauto UK, UAN and FPS in the UK, Alliance Automotive Group Germany in Germany and Groupauto Poland in Poland. AAG serves approximately 40,000 garages with over 100,000 different parts for repair and maintenance from a network of more than 300 company-owned stores and approximately 1,800 affiliated outlets.
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