Genuine Parts Company (NYSE: GPC), Atlanta, GA, has agreed to acquire Quaker City Motor Parts Co., a long-standing NAPA distributor. Genuine Parts expects the acquired business to generate annual revenues of $300 million.
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QCMP is headquartered in Middletown, DE, and serves the mid-Atlantic region of the U.S., including eastern Pennsylvania, southern New Jersey, Maryland, Delaware, the District of Columbia, the northern counties of Virginia and northeastern tip of West Virginia.
\”We believe the acquisition of QCMP is an important strategic fit and it offers us excellent growth opportunities in the mid-Atlantic region of the U.S.,\” said Tom Gallagher, CEO of Genuine Parts.