ATLANTA, Nov. 2, 2017 /PRNewswire/ -- Genuine Parts
Company (NYSE: GPC) announced today that it has completed the
purchase of Alliance Automotive Group (AAG) for a total purchase
price of approximately $2 billion
(US$), including the repayment of AAG's outstanding debt, effective
today.
AAG is the second largest parts distribution platform in
Europe, with a focus on light
vehicle and commercial vehicle replacement parts.
Headquartered in London, AAG
has approximately 8,000 employees and 2,100 company-owned stores
and affiliated outlets across France, the U.K., Germany and Poland. AAG has a consistent track record of
organic revenue and earnings growth supported by strategic
investments based on a proven M&A strategy to gain scale,
efficiencies and geographic coverage.
The Company financed the purchase, including the pay-off of
AAG's existing debt arrangements, with approximately $2 billion of debt financing. Additional
details related to the new debt financing can be found in the
Company's Form 8-K filed today.
About Genuine Parts Company
Genuine Parts Company is
a distributor of automotive replacement parts in the U.S.,
Canada, Mexico and Australasia. The Company also
distributes industrial replacement parts in the U.S., Canada and Mexico through its Motion Industries
subsidiary. S. P. Richards Company, the Office Products
Group, distributes business products in the U.S. and Canada. The Electrical/Electronic Group, EIS,
Inc., distributes electrical and electronic components throughout
the U.S., Canada and Mexico.
Genuine Parts Company had 2016 revenues of $15.3 billion. Further information is
available at www.genpt.com.
About Alliance Automotive Group
Alliance Automotive
Group is a leading distributor of light and commercial vehicle
parts to the independent aftermarket in France, Germany, the UK 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. Further information is available at
www.allianceautomotivegroup.eu.
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