Genuine Parts announced an acquisition for its European Automotive business. Effective July 31, Alliance Automotive Group, or AAG, the company’s wholly-owned automotive distribution company based in London, U.K., acquired Recambios y Accesorios Gaudi. Gaudi, founded in 1989, is one of the leading independent players in Spain with 22 stores operating mainly in the Catalonia and Madrid regions. Thanks to a combination of organic growth and numerous store openings, the business has expanded significantly over the past years, achieving annual revenues of approximately EUR100M or $110M. These results reflect the expertise of the Gaudi team and its 350 employees across all vehicle segments in the automotive sector.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GPC:
- Genuine Parts Company Announces Automotive Acquisition in Europe, Expanding Leadership Position in Spain
- Genuine Parts management to meet with Truist
- Genuine Parts price target lowered to $168 from $172 at Stephens
- Genuine Parts price target lowered to $191 from $195 at Truist
- Genuine Parts price target lowered to $165 from $170 at Evercore ISI