ATLANTA, April 13,
2022 /PRNewswire/ -- Genuine Parts Company (NYSE:
GPC) announced today an acquisition for its European Automotive
business. Effective April 12, 2022,
Alliance Automotive Group (AAG), the Company's wholly-owned
automotive distribution company based in London, U.K., acquired Lausan Group
(Lausan).
Lausan, founded in 1953 and based in Bilbao, Spain, is a leading distributor of
automotive aftermarket parts in Spain and Portugal, which represent the 5th
largest car parc in Europe. Lausan
serves its customers from an established network, including one
national distribution center, nine regional hubs and 37 stores. The
Company expects Lausan to generate annual revenue of approximately
€115 million ($125 million USD).
"We are pleased to expand our European automotive footprint with
the addition of Lausan," said Paul
Donahue, Chairman and Chief Executive Officer of GPC. "With
our entry into Spain and
Portugal, we expect to further
strengthen Lausan's market-leading position by capitalizing on our
European scale and purchasing expertise, as well as leveraging the
roll-out of our NAPA brand across this region. We welcome the
Lausan team to the GPC and AAG family and are excited to work
together to maximize the growth opportunities in our European
business."
With the addition of Lausan, AAG operates in nine European
countries: France, the UK,
Ireland, Germany, the
Netherlands, Belgium,
Poland, Spain and Portugal.
Forward Looking Statements
This press release
contains "forward-looking statements" that are subject to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements in the future tense and all statements
accompanied by words such as "expected," "opportunities," "look
forward," or similar expressions are intended to identify such
forward-looking statements. These forward-looking statements
include statements regarding the acquisition of Lausan by GPC's
subsidiary, AAG, including those relating to the revenues expected
to be generated by Lausan and AAG's ability to further strengthen
Lausan's market position. Forward-looking statements are based on
information currently available to GPC and involve estimates,
expectations and projections. Investors are cautioned that all such
forward-looking statements are subject to risks and uncertainties,
and important factors could cause actual events or results to
differ materially from those indicated by such forward-looking
statements. With respect to the proposed acquisition, these risks,
uncertainties and factors include, but are not limited to: the risk
that Lausan will not be integrated successfully; the risk that the
cost savings, synergies and growth from the acquisition may not be
fully realized or may take longer to realize than expected; the
diversion of management time on transaction-related issues; and the
risk that costs associated with the integration of the business are
higher than anticipated.
Additional information regarding other risks and uncertainties
that may impact GPC and its operations are also contained in GPC's
most recent Annual Report on Form 10-K and subsequent Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K filed with the
Securities and Exchange Commission.
Many of these risks, uncertainties and assumptions are beyond
GPC's ability to control or predict. Because of these risks,
uncertainties and assumptions, actual results may vary materially,
and you should not place undue reliance on these forward-looking
statements. Furthermore, forward-looking statements speak only as
of the information currently available to the parties on the date
they are made, and GPC does not undertake any obligation to update
publicly or revise any forward-looking statements to reflect events
or circumstances that may arise after the date of such
communication, except as required by law.
Forward-looking statements are only as of the date they are
made, and the Company undertakes no duty to update any
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 filed with the SEC.
About Genuine Parts Company
Founded in 1928, Genuine
Parts Company is a global service organization engaged in the
distribution of automotive and industrial replacement parts. The
Company's Automotive Parts Group distributes automotive replacement
parts in the U.S., Canada,
Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the
Netherlands, Belgium,
Spain and Portugal. The Company's Industrial Parts Group
distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the Company
serves its global customers from an extensive network of more than
10,000 locations in 17 countries and has approximately 52,000
employees. Further information is available at www.genpt.com.
About Alliance Automotive Group
Alliance Automotive
Group is a leading distributor of light and commercial vehicle
parts to the independent aftermarket in France, the U.K., Ireland, Germany, Poland, the
Netherlands, Belgium,
Spain and Portugal. AAG does business under the
Groupauto France, Precisium Group and Pièces Auto in
France, Groupauto UK and UAN in
the UK, Groupauto Ireland in Ireland, Alliance Automotive Group Germany in
Germany, Groupauto Poland in
Poland, Partspoint, Precisium and
Winparts in the Netherlands and
Belgium and Lausan and Soulima in
Spain and Portugal. AAG serves approximately 50,000
garages with over 100,000 different parts for repair and
maintenance from a network of more than 700 company-owned stores
and more than 1,700 affiliated outlets. Further information
is available at www.allianceautomotivegroup.eu.
Source: Genuine Parts Company
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SOURCE Genuine Parts Company