Genuine Parts Company announced that Alliance Automotive Group (AAG), the company’s wholly-owned automotive distribution company based in London, U.K., has entered into a definitive agreement to acquire Todd Group (Todd).
The transaction is expected to close in the fourth quarter of 2019 and is contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals.
Todd, based in Normandy, France, is a leading distributor of truck parts and accessories for the independent heavy-duty aftermarket. Through a national network of 35 branches, Todd serves its customers with parts and services for all brands of trucks, trailers, semi-trailers, buses and commercial vehicles. The company expects the acquired business to generate annual revenues of approximately $85 million (USD).
Paul Donahue, Chairman and Chief Executive Officer of Genuine Parts Company, stated, “We are pleased to join forces with Todd and further expand our heavy-duty parts and services offering. The heavy-duty market has largely avoided the economic and other pressures in Europe and continues to grow at solid rates. Todd is an excellent organization with a rich history dating back to 1975, and we are excited to work together to grow our heavy-duty business in France.”
Jean-Jacques Lafont, Chief Executive Officer of Alliance Automotive Group added, “The addition of Todd complements the AAG network and builds on our industry leading position as the largest distributor to the independent heavy-duty aftermarket in France. We look forward to closing this transaction and welcoming the Todd team to AAG.”