Genuine Parts Company Announces Automotive Acquisition in Europe, Expanding Leadership Position in Spain
Gaudi, founded in 1989, is one of the leading independent players in
"We are pleased to expand our European Automotive footprint with the addition of Gaudi," said Paul Donahue, Chairman and Chief Executive Officer of GPC. "With this acquisition, we are broadening our leadership position in
"The synergies provided by this transaction will enable us to grow more effectively and allow us to provide even greater customer service throughout the country. We welcome the Gaudi team to the GPC and AAG family and are excited to work together to maximize the growth opportunities in our European business," continued Donahue.
The addition of Gaudi further builds on AAG Iberia's strategic foothold in the automotive aftermarket, previously represented by Lausan in
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 "opportunities" and "will" or similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding the acquisition of Gaudi by GPC's subsidiary, AAG, including those relating to extending the rollout of the NAPA brand in
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
About Alliance Automotive Group
Alliance Automotive Group (AAG), is a leading distributor of light and commercial vehicle parts to the independent aftermarket in
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SOURCE Genuine Parts Company