Genuine Parts To Acquire Remaining Stake Of Inenco - Quick Facts

(RTTNews) - Genuine Parts Company (GPC) entered the final phase of its Inenco Group acquisition with the signing of a definitive deal to acquire the remaining 65% stake of Inenco. Headquartered in Sydney, Australia, Inenco Group is a leading industrial distributor of bearings, power transmission and seals. Genuine Parts expects to complete the acquisition on July 1, 2019.

Paul Donahue, CEO of Genuine Parts Company, said, "Given our successful partnership with Inenco over the last two years, we believe that 100% ownership of the company best positions us to participate in the large and growing industrial marketplace in Australasia."