Genuine Parts Company (GPC) has announced that its Alliance Automotive Group (AAG) automotive aftermarket distribution company based in London, U.K., has entered into a definitive agreement to acquire PartsPoint Group of the Netherlands.
The transaction is expected to close on June 1, 2019, and is contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals.
PartsPoint Group, headquartered in Ede, Netherlands, is a leading distributor of automotive aftermarket parts and accessories in the Benelux. Through a network of one national distribution center, six regional warehouses and 147 branches, PartsPoint serves many thousands of customers across the Netherlands and Belgium, predominantly independent garages and wholesalers. The company expects the acquired business to generate annual revenues of approximately $330 million USD.
Paul Donahue, President and Chief Executive Officer of Genuine Parts Company, stated, “PartsPoint Group is a leading supplier of automotive parts and accessories in the Benelux marketplace, and we are pleased to expand our European footprint into this region with such an outstanding organization. We are excited for the opportunities we see in the Netherlands and Belgium, and we look forward to the many contributions the PartsPoint team will make in the years ahead.”
Jean-Jacques Lafont, Chief Executive Officer of Alliance Automotive Group added, “PartsPoint Group is an excellent strategic fit for AAG and an important milestone in our growth strategy in Europe. PartsPoint has a strong and talented management team and we look forward to supporting their long-term growth plans. We welcome the addition of PartsPoint to AAG.”