Genuine Parts Company
) nudged up 0.64% on Jun 17, 2014, after it announced an agreement
by its office products group, S. P. Richards Company, to acquire
Impact Products, LLC. The transaction is subject to customary
closing conditions and attainment of applicable regulatory
Genuine Parts expects the acquisition to culminate on Jul 1,
2014. Impact Products is a leading supplier of facility, janitorial
and safety supplies in North America. The company has its
headquarters in Toledo, OH and distribution centers in Toledo and
The deal is expected to boost revenues of Genuine Parts by $85
million per annum. Moreover, it will complement the acquisition of
Garland C. Norris by S. P. Richards, which was completed on Feb 1,
Genuine Parts had announced three acquisitions simultaneously on
Feb 3, 2014. Apart from the Garland C. Norris acquisition, EIS -
the Electrical/Electronic Material Group of Genuine Parts - also
completed the acquisition of the assets of Electro-Wire, Inc. on
Feb 1, 2014.
Additionally, Motion Industries (Canada), Inc., an indirect
wholly owned subsidiary of Motion Industries - the Industrial Group
of Genuine Parts - completed the acquisition of 100% of the issued
and outstanding common shares of Commercial Solutions Inc. on Jan
Genuine Parts frequently undertakes acquisitions to expand its
business. In the near term, the company is targeting bolt-on
acquisitions of companies with annual revenues ranging between $25
million and $125 million.
Genuine Parts currently carries a Zacks Rank #2 (Buy). Other
stocks worth considering in the same industry are
Dorman Products, Inc.
Standard Motor Products Inc.
Douglas Dynamics, Inc.
). All these stocks carry a Zacks Rank #2.
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