Genuine Parts Co. (GPC) said Tuesday that Alliance Automotive Group or AAG, the company's wholly-owned automotive distribution company based in London, U.K., has entered into a definitive agreement to acquire PartsPoint Group. The transaction is expected to close on June 1, 2019.
Ede, Netherlands-based PartsPoint Group is a 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.
Genuine Parts said it expects the acquired business to generate annual revenues of approximately $330 million.
Paul Donahue, President and Chief Executive Officer of Genuine Parts Company, said, "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."
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