Genuine Parts' Europe Unit Completes PartsPoint Acquisition
Zacks Investment Research | Jun 07, 2019 07:25AM ET
Genuine Parts Company’s (NYSE:GPC) U.K.-based wholly-owned automotive distribution company, Alliance Automotive Group (“AAG”), completed the acquisition of PartsPoint Group (PartsPoint) on Jun 4, 2019. The Netherlands-based acquired company deals with automotive aftermarket parts and accessories, with presence across Netherlands and Belgium.
The acquisition of PartsPoint will support the Europe expansion of AAG. Addition of the Dutch company in the portfolio will provide opportunities to increase Genuine Parts’ footprint in the Benelux marketplace over the years to come.
Genuine Parts regularly undertakes acquisitions to improve product offerings and expand the geographical footprint. The acquisition of AAG in November 2018 is helping the company witness robust sales and operational results. In order to keep growing in Europe, its subsidiary, AAG, is undertaking acquisitions that are expected to favorably impact sales across Europe.
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