Hastings Auto Parts Acquired

Genuine Parts Co. to Buy Hastings Auto Parts in Michigan

The addition of Hastings “will add four stores to our distribution footprint and further expand our presence in the Detroit market,” GPC said in a news release.

Genuine Parts Co. (GPC) announced that its U.S. Automotive Parts Group will acquire Hastings Auto Parts, a regional auto parts chain based in the Detroit area.

GPC said the deal has an effective close date of Oct. 1.

The addition of Hastings “will add four stores to our distribution footprint and further expand our presence in the Detroit market,” GPC said in a news release.

Founded in 1981, Hastings is expected to generate approximate annual revenues of $10 million, GPC noted.

“Hastings represents a strategic tuck-in acquisition for our U.S. automotive business, and serves to expand our automotive store footprint and competitiveness in the greater Detroit marketplace,” GPC President and CEO Paul Donahue said. “We are pleased to welcome the Hastings team to the U.S. Automotive Parts and GPC family and look forward to working with them to expand our market share in the Detroit trading area.”

GPC also announced that its industrial group, Motion Industries, has entered into a definitive agreement to acquire Hydraulic Supply Co. (HSC), with an effective close date of Oct. 1. Founded in 1947 and based in Sunrise, Florida, HSC is a full-service fluid-power distributor, with a broad product offering of hydraulic, pneumatic and industrial components and systems. 

You May Also Like

GPC Reports 2023 Results, Announces Global Restructuring Program

The restructuring includes a voluntary retirement offer in the United States.

Genuine Parts Co. (GPC) reported full-year 2023 sales of $23.1 billion, a 4.5% year-over-year increase.

Net income was $1.3 billion, or $9.33 per diluted share, an increase of 12.3%.

Full-year net sales in the Automotive Parts Group, which includes NAPA Auto Parts, were $14.25 billion, up from $13.67 billion in 2022.

Fourth-quarter automotive sales were up nearly 1% to $3.5 billion.

VIPAR Heavy Duty Supplier Advisory Council Reviews Performance, Strategy

At its semi-annual meeting, the council discussed current and expected market conditions and opportunities.

VIPAR Heavy Duty
MANN+HUMMEL’s NA Aftermarket Brands Support Right to Repair

The Right-to-Repair movement has gained momentum in recent years.

MANN+HUMMEL Right to Repair
Auto Care Testifies Against Idaho Bill Targeting Non-OEM Parts

The bill would add language to an existing law that requires insurers to notify consumers in writing if they specify aftermarket parts for a collision repair.

Idaho SB 1233
Trade Associations Urge Congress to Restore R&D Tax Deduction

A change to the U.S. tax code has been “particularly burdensome for the auto industry, threatening thousands of jobs.”

Restore R&D Credit

Other Posts

AutoPartSource/Momentum USA Receives O’Reilly’s Sales & Service Award

This is the second year in a row that O’Reilly has honored AutoPartSource/Momentum USA with the award.

Momentum USA OReilly
Kalitta Motorsports, Dayco Announce Partnership, Distributor Agreement

Dayco will have branding on J.R. Todd’s DHL GR Supra funny car, and Kalitta is the exclusive at-track distributor of Dayco 11-mm racing blower belts for nitro engines.

Dayco Kalitta
Auto-Wares Recognizes Six Companies with Supplier Awards

DRiV received the 2023 Supplier of the Year Award.

DRiV Auto Wares