Genuine Parts Company announced that it has completed the purchase of Alliance Automotive Group for a total purchase price of approximately $2 billion USD, including the repayment of AAG’s outstanding debt.
AAG is the second largest parts distribution platform in Europe, with a focus on light vehicle and commercial vehicle replacement parts. Headquartered in London, AAG has approximately 8,000 employees and 2,100 company-owned stores and affiliated outlets across France, the U.K., Germany and Poland.
AAG has a consistent track record of organic revenue and earnings growth supported by strategic investments based on a proven M&A strategy to gain scale, efficiencies and geographic coverage.
The Company financed the purchase, including the pay-off of AAG’s existing debt arrangements, with approximately $2 billion of debt financing. Additional details related to the new debt financing can be found in the Company’s Form 8-K filed today.