Genuine Parts Company (GPC) has announced an acquisition for its European automotive business.
Alliance Automotive Group (AAG), the company's wholly-owned automotive distribution company in London, England, has entered into a definitive agreement to acquire Todd Group (Todd). The transaction is expected to close in the fourth quarter of 2019 subject to the usual closing conditions and regulatory approvals.
Todd, based in Normandy, France, is a distributor of truck parts and accessories for the independent heavy duty aftermarket.
Through a network of 35 branches, it offers parts and services for all brands of trucks, trailers, semi-trailers, buses and commercial vehicles.
GPC expects the acquired business to generate annual revenue of around US$85m.
Paul Donahue, GPC chairman and CEO, said "We are pleased to join forces with Todd and further expand our heavy duty parts and services offering. The market has largely avoided the economic and other pressures in Europe and continues to grow at solid rates. Todd is an excellent organization with a rich history dating back to 1975, and we are excited to work together to grow our business in France."