Genuine Parts Company Enters Into Definitive Agreement To Complete Acquisition Of Leading Industrial Distributor In Australasia

ATLANTA, May 22, 2019 /PRNewswire/ — Genuine Parts Company (NYSE: GPC) announced today that it has entered into a definitive agreement to acquir


Genuine Parts Company (NYSE: GPC), a global distributor of automotive replacement parts, has inked a definitive agreement to acquire the remaining 65% stake of Inenco. Earlier on April 3, 2017, GPC had purchased a 35% stake in Inenco. Australia-based Inenco Group is a leading industrial distributor of bearings, power transmission and seals. GPC intends to finance the deal using a combination of cash and borrowings. The transaction is expected to close on July 1, 2019.