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Ford Motor Company (F) - $25 value - yours FREE >>
Genuine Parts Company (GPC) - $25 value - yours FREE >>
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Genuine Parts (GPC) Expands in Europe With AAG Acquisition
Genuine Parts Company (GPC - Free Report) reported that it has completed the acquisition of Alliance Automotive Group (“AAG”) for a total price of roughly $2 billion. The purchase price includes repayment of the acquired company’s outstanding debt.
The acquisition of AAG was announced in September (Read More: Genuine Parts Company to Foray Into European Market).
London-based AAG is Europe’s second largest distributor platform of parts distribution, mainly focusing on light vehicle and commercial vehicle replacement parts. It has 2,100 company-owned stores and affiliated outlets across France, the United Kingdom, Germany and Poland. It employs approximately 8,000 employees. On the basis of U.S. GAAP, Alliance Automotive Group is expected to generate $1.7 billion of revenues in 2017.
Genuine Parts Company Price and Consensus
Genuine Parts Company Price and Consensus | Genuine Parts Company Quote
The buyout has been financed by a debt of $2 billion incurred by Genuine Parts.
The acquisition will enable Genuine Parts to enter the European markets through AAG’s large chain of stores and its geographical presence across the continent.
Zacks Rank & Key Picks
Genuine Parts carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the auto space include Cummins Inc. (CMI - Free Report) , Ford Motor Company (F - Free Report) and BorgWarner Inc. (BWA - Free Report) . Cummins sports a Zacks Rank #1 (Strong Buy), whereas Ford and BorgWarner carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cummins has an expected long-term growth rate of 12.4%.
Ford has an expected long-term growth rate of 10.7%.
BorgWarner has an expected long-term growth rate of 9.1%.
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