Jump to content

  • Welcome to Auto Parts Forum

    Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn. 

     

Genuine Parts Company Announces Automotive Acquisition in Germany


Recommended Posts

GPC's Alliance Automotive Group Enters Definitive Agreement to Acquire German Hennig Fahrzeugteile Group

Jun 7, 2018

ATLANTA, June 7, 2018 /

link hidden, please login to view
/ -- Genuine Parts Company (NYSE: GPC) announced today an acquisition for its European Automotive business.

GPC Logo. (PRNewsFoto/Genuine Parts Company)

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 Hennig Fahrzeugteile Group. The transaction is expected to close by August 1, 2018, and is contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals. 

Hennig Fahrzeugteile Group, headquartered in Essen, North Rhine-Westphalia, is one of Germany'sleading suppliers of light and commercial vehicle parts. Hennig Fahrzeugteile has 31 branches across Germany and serves more than 9,000 customers, predominantly independent workshops and retailers. The Company expects the acquired business to generate annual revenues of approximately $190 million (US$).

Paul Donahue, Chief Executive Officer of Genuine Parts Company, stated, "Hennig Fahrzeugteile Group is a premier supplier of vehicle parts in the German marketplace, and the addition of this business serves to further expand our presence and scale in Europe as we build on our global growth strategy.  We are pleased to welcome the Hennig Fahrzeugteile team into the AAG and GPC family and expect the combination of our organizations to be a great fit, both financially and strategically.  We look forward to the many contributions the Hennig Fahrzeugteile team will make in the years ahead."

Jean-Jacques Lafont, Chief Executive Officer of Alliance Automotive Group added, "We look forward to welcoming Hennig Fahrzeugteile Group to the AAG organization. With this acquisition we continue our expansion in Germany and add another competitive network to serve our customers."

Forward Looking Statements

Some statements in this report, as well as in other materials we file with the Securities and Exchange Commission (SEC) or otherwise release to the public and in materials that we make available on our website, constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Senior officers may also make verbal statements to analysts, investors, the media and others that are forward-looking. Forward-looking statements may relate, for example, to the proposed business combination transaction between the Company and Essendant, Inc. ("Essendant") in which the Company will spin-off its Business Products Group and combine this business with Essendant or the acquisition of Alliance Automotive Group (AAG) and the anticipated strategic benefits, synergies and other attributes of these transactions, as well as future operations, prospects, strategies, financial condition, economic performance (including growth and earnings), industry conditions and demand for our products and services. The Company cautions that its forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Actual results or events may differ materially from those indicated as a result of various important factors. Such factors may include, among other things, the Company's ability to successfully integrate AAG into the Company and to realize the anticipated synergies and benefits; changes in the European aftermarket; the Company's ability to complete the transaction to spin-off its Business Products Group; the Company's ability to successfully implement its business initiatives in each of its three business segments; slowing demand for the Company's products; changes in legislation or government regulations or policies; changes in general economic conditions, including unemployment, inflation or deflation; changes in tax policies; volatile exchange rates; high energy costs; uncertain credit markets and other macro-economic conditions; competitive product, service and pricing pressures; the ability to maintain favorable vendor arrangements and relationships; disruptions in our vendors' operations; the Company's ability to successfully integrate its acquired businesses; the uncertainties and costs of litigation; disruptions caused by a failure or breach of the Company's information systems, as well as other risks and uncertainties discussed in the Company's Annual Report on Form 10-K for 2017 and from time to time in the Company's subsequent filings with the SEC.

Forward-looking statements are only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law.  You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K and other reports to the SEC.

About Genuine Parts Company

Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany and Poland.  The Company also distributes industrial replacement parts and electrical and electronic materials in the U.S., Canada and Mexico through its Industrial Products Group.  S.P. Richards Company, the Business Products Group, distributes a variety of business products in the U.S. and Canada. Genuine Parts Company had 2017 revenues of $16.3 billion. Further information is available at 

link hidden, please login to view
.

About Alliance Automotive Group

Alliance Automotive Group is a leading distributor of light and commercial vehicle parts to the independent aftermarket in France, Germany, the U.K., and Poland, doing business under the Groupauto France, Précisium, Partners and Gef'Auto brands in France, Groupauto UK, UAN and FPS in the UK, Alliance Automotive Group Germany in Germany and Groupauto Poland in Poland.  AAG serves approximately 40,000 garages with over 100,000 different parts for repair and maintenance from a network of more than 300 company-owned stores and approximately 1,800 affiliated outlets.  Further information is available at 

link hidden, please login to view
.

SOURCE Genuine Parts Company

For further information: Carol B. Yancey, Executive Vice President and CFO - (678) 934-5044; Sidney G. Jones, Senior Vice President - Investor Relations - (678) 934-5628

link hidden, please login to view

Link to comment
Share on other sites

Great Tire Deal

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Similar Topics

    • By Advance Auto Parts
      Advance’s “Check Your Battery, Not Your Bag” campaign offers free gift cards for road trip essentials and curbside services beginning National Road Trip Day – Friday, May 24
      RALEIGH, N.C.--(BUSINESS WIRE)-- Americans seem to be hitting a breaking point with air travel, with 67 percent saying they’ve had a trip negatively impacted or ruined because of problems with air travel during the last 12 months,* according to new data from Atomik Research, released today by Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider.
      Advance Auto Parts offers free curbside services including battery testing and installation, wiper blade installation and check engine light scanning, to ensure motorists are ready to roll for their summer road trips. (Photo: Business Wire)
      From losing precious time – 44 percent citing that delays and other problems traveling by air has cost them vacation time – to safety concerns – 32 percent feeling less safe flying compared to a year ago, Americans are saying “enough!” This summer they’re trading wings for wheels: An astounding 70 percent say they are more likely compared to a year ago to choose traveling by automobile over flying due to the current state of air travel.
      The “baggage” that comes with air travel continues to stack up and now outweighs the benefit of faster travel time for many Americans, according to the survey. Sixty-six percent say the number of hours they’re willing to drive before choosing to fly has increased in the past 12 months and 24 percent say they would drive 10 or more hours for summer vacation before choosing to fly.
      Heeding consumers’ preference for summer vacation by automobile, Advance is encouraging travelers to “Check Your Battery, Not Your Bag” so they can achieve what matters most – enjoying their well-deserved summer vacation.
      Beginning National Road Trip Day this Friday, May 24 through Monday, May 27, participating Advance stores nationwide will surprise randomly selected customers with free Advance gift cards to purchase DieHard® batteries, wiper blades or other road trip essentials, no previous purchase necessary. Complimentary curbside services are available every day throughout the year to customers at all participating Advance stores, including battery checks and installation, wiper blade installation and check engine light scanning.
      “With all the concern about air travel and more people planning to travel by automobile – including willing to drive longer for their summer vacations – it’s critical they prepare their vehicles, and we want to make that as easy as possible,” said Junior Word, Advance’s executive vice president, U.S. stores. “Safety and reliability are at the center of ease, so our team of automotive experts are offering travelers a one-stop preparation shop – from car care essentials to curbside battery checks and installs on us.”
      The great majority (85 percent) of survey respondents indicate they will prepare a pre-road trip checklist for their vacation. To further support motorists, Advance is providing “Rules of the Road (Trip)” – a free checklist outlining car preparation basics designed to help both light DIYers and gearheads alike – available on 
      link hidden, please login to view. Check out 
      link hidden, please login to view or visit an  link hidden, please login to view to shop for all of the auto parts and products needed to get vehicles road trip ready. About Advance Auto Parts
      Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of December 30, 2023, Advance operated 4,786 stores and 321 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,245 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at 
      link hidden, please login to view. * Atomik Research conducted an online survey of 1,002 adult drivers who are considering traveling to their summer-travel destination via air travel or automobile. The margin of error for the overall sample of respondents is +/- 3 percentage points with a confidence level of 95 percent. Fieldwork took place between April 18 and April 19, 2024.


      link hidden, please login to view
    • By AutoZone
      MEMPHIS, Tenn. , May 21, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $4.2 billion for its third quarter (12 weeks) ended May 4, 2024 , an increase of 3.5% from the third quarter of fiscal 2023 (12 weeks). Same store sales, or sales for our domestic and
      link hidden, please login to view
    • By gearupauto
      Hello, this is Janet from 
      link hidden, please login to view which is one of the leading auto parts distributors worldwide. They focus on meeting customer needs through their extensive selection of quality auto parts. I want to share my site's products with you guys.
      Thanks!
    • By OReilly Auto Parts
      We've Got Answers | O'Reilly Auto Parts
    • By OReilly Auto Parts
      O'Reilly VeriScan Service | O'Reilly Auto Parts

×
  • Create New...