Genuine Parts Company Announces Automotive Acquisition in Europe, Expanding Presence into Key New Markets in Spain and Portugal
Genuine Parts CompanyApr 13, 2022, 16:30 ET
ATLANTA, April 13, 2022 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC) announced today an acquisition for its European Automotive business. Effective April 12, 2022, Alliance Automotive Group (AAG), the Company's wholly-owned automotive distribution company based in London, U.K., acquired Lausan Group (Lausan).
Lausan, founded in 1953 and based in Bilbao, Spain, is a leading distributor of automotive aftermarket parts in Spain and Portugal, which represent the 5th largest car parc in Europe. Lausan serves its customers from an established network, including one national distribution center, nine regional hubs and 37 stores. The Company expects Lausan to generate annual revenue of approximately €115 million ($125 million USD).
Genuine Parts Company Announces Automotive Acquisition in...
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