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Genuine Parts Co. (NYSE: GPC), Atlanta, GA, is adding to its European Automotive business with the purchase of a German automotive parts distributor.
Alliance Automotive Group, GPC’s automotive distribution company based in London, UK, has agreed to acquire Germany-based Hennig Fahrzeugteile Group. The transaction is expected to close by August 1, 2018, the company said.
Hennig Fahrzeugteile Group is headquartered in Essen, North Rhine-Westphalia. It supplies light and commercial vehicle parts from 31 branches across Germany and serves more than 9,000 customers, predominantly independent workshops and retailers. GPC said it expects the acquired business to generate annual revenues of approximately $190 million (US$).
GPC is also the parent company of U.S.-based power transmission, motion control and fluid power distributor Motion Industries.