GPC announces automotive acquisition in Europe, expanding presence into Spain and Portugal markets
Genuine Parts Company (GPC), announced an acquisition for its European Automotive business. 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).
Paul Donahue, Chairman and Chief Executive Officer, GPC: "We are pleased to expand our European automotive footprint with the addition of Lausan. With our entry into Spain and Portugal, we expect to further strengthen Lausan's market-leading position by capitalizing on our European scale and purchasing expertise, as well as leveraging the roll-out of our NAPA brand across this region. We welcome the Lausan team to the GPC and AAG family and are excited to work together to maximize the growth opportunities in our European business."
With the addition of Lausan, AAG operates in nine European countries: France, the UK, Ireland, Germany, the Netherlands, Belgium, Poland, Spain and Portugal.
