Genuine Parts To Buy Hennig Fahrzeugteile Group - Quick Facts

(RTTNews) - Genuine Parts Co. GPC) has announced an automotive acquisition in Germany. The company said that Alliance Automotive Group or AAG, its wholly-owned automotive distribution company based in London, U.K., has agreed to acquire Hennig Fahrzeugteile Group.

Based in Essen, North Rhine-Westphalia, Hennig Fahrzeugteile Group, is a German supplier of light and commercial vehicle parts. Hennig Fahrzeugteile has 31 branches across Germany and serves more than 9,000 customers, predominantly independent workshops and retailers.

The transaction is expected to close by August 1, 2018. Alliance Automotive expects the acquired business to generate annual revenues of about $190 million.

Paul Donahue, Chief Executive Officer of Genuine Parts Co. stated, "Hennig Fahrzeugteile Group is a premier supplier of vehicle parts in the German marketplace, and the addition of this business serves to further expand our presence and scale in Europe as we build on our global growth strategy."