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Genuine Parts Company (GPC) to Foray Into European Market
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Per a Reuters news, Genuine Parts Company (GPC - Free Report) has announced that it is entering the European market. The Atlanta, GA-based distributor of automotive and industrial replacement parts’ company is doing so by purchasing London-headquartered Alliance Automotive Group for $2 billion, including debt.
The deal is anticipated to be completed in fourth-quarter 2017. It will enable Genuine Parts to directly take on its rival LKQ Corporation (LKQ - Free Report) . Notably, Chicago, IL-based LKQ Corporation is the largest automotive parts’ distributor in the European light vehicles aftermarket. Two other top companies in the European light vehicle aftermarket are UK-based Parts Alliance and Poland-based Inter Cars.
Alliance Automotive Group distributes parts for commercial and light vehicles in the United Kingdom, France and Germany. It employs 7,500 people and has over 1,800 stores and affiliated outlets in Europe.
Genuine Parts operates through 7,300 stores with presence in the United States, Canada, Mexico and Australia. The company derives over four-fifth of its annual revenues from the United States.
The deal is anticipated to be accretive to Genuine Parts going forward. It is projected that the deal will add 65 to 70 cents per share to Genuine Parts' adjusted earnings in 2018.
Two companies in the auto space include Toyota Motor Corporation (TM - Free Report) and Volkswagen AG .
Toyota has a long-term growth rate expectation of 7%.
Volkswagen has an expected long-term earnings growth rate of 8.9%
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Genuine Parts Company (GPC) to Foray Into European Market
Per a Reuters news, Genuine Parts Company (GPC - Free Report) has announced that it is entering the European market. The Atlanta, GA-based distributor of automotive and industrial replacement parts’ company is doing so by purchasing London-headquartered Alliance Automotive Group for $2 billion, including debt.
The deal is anticipated to be completed in fourth-quarter 2017. It will enable Genuine Parts to directly take on its rival LKQ Corporation (LKQ - Free Report) . Notably, Chicago, IL-based LKQ Corporation is the largest automotive parts’ distributor in the European light vehicles aftermarket. Two other top companies in the European light vehicle aftermarket are UK-based Parts Alliance and Poland-based Inter Cars.
Alliance Automotive Group distributes parts for commercial and light vehicles in the United Kingdom, France and Germany. It employs 7,500 people and has over 1,800 stores and affiliated outlets in Europe.
Genuine Parts operates through 7,300 stores with presence in the United States, Canada, Mexico and Australia. The company derives over four-fifth of its annual revenues from the United States.
The deal is anticipated to be accretive to Genuine Parts going forward. It is projected that the deal will add 65 to 70 cents per share to Genuine Parts' adjusted earnings in 2018.
Two companies in the auto space include Toyota Motor Corporation (TM - Free Report) and Volkswagen AG .
Toyota has a long-term growth rate expectation of 7%.
Volkswagen has an expected long-term earnings growth rate of 8.9%
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>