Genuine Parts Co. recently announced an acquisition for its European automotive business.
London-based Alliance Automotive Group (AAG), its wholly owned automotive distribution company, has entered into a definitive agreement to acquire Hennig Fahrzeugteile Group. The transaction is expected to close by Aug. 1.
Hennig Fahrzeugteile Group, headquartered in Essen, North Rhine-Westphalia, is one of Germany’s leading suppliers of light-duty and commercial vehicle parts. Hennig Fahrzeugteile has 31 branches across Germany and serves more than 9,000 customers, predominantly independent shops and retailers.
“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,” said Paul Donahue, CEO of Genuine Parts Co. “We are pleased to welcome the Hennig Fahrzeugteile team into the AAG and GPC family and expect the combination of our organizations to be a great fit, both financially and strategically. We look forward to the many contributions the Hennig Fahrzeugteile team will make in the years ahead.”
Genuine Parts. Co. said it expects Hennig Fahrzeugteile Group to generate an estimated $190 million in annual revenue.
“We look forward to welcoming Hennig Fahrzeugteile Group to the AAG organization,” said Jean-Jacques Lafont, CEO of Alliance Automotive Group. “With this acquisition we continue our expansion in Germany and add another competitive network to serve our customers.”
