The 2020 Mid-Year Economic Update_long

Genuine Parts Agrees to Acquire Australian Distributor

Genuine Parts will pay $800 million for aftermarket auto parts distributor Exego Group.

Genuine Parts Company (NYSE: GPC), Atlanta, GA, has agreed to acquire the remaining 70 percent stake of Exego Group, Melbourne, Australia, for $800 million.

\"FreeFree DVD: Upgrade Today!

MDM Premium provides in-depth research and analysis for distribution executives. Subscribe today & we'll send you Top 10 Trends in Distribution, free! Learn more or subscribe now.

Already a subscriber? Renew & we'll send you the DVD.

The company had purchased a 30 percent stake in the Exego Group in January 2012. The acquisition is expected to close April 1.

Exego Group is an aftermarket distributor of automotive replacement parts and accessories with annual revenues of more than $1 billion and a footprint of more than 430 locations across Australia and New Zealand.  

Tom Gallagher, chairman and CEO of Genuine Parts Co., said, "The Exego team exceeded our expectations for meeting the growth and earnings thresholds outlined in our original agreement, thus, we were presented with the opportunity to move forward with our investment earlier than expected."

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By : XYZScripts.com