The US based Genuine Parts Co. Has announced that it has completed the purchase of Alliance Automotive Group (AAG) for a total purchase price of approximately $2 billion (USD). This includes the settlement of AAG’s outstanding debt.
AAG is the second-largest parts distribution platform in Europe, with a focus on light vehicle and commercial vehicle replacement parts. With headquarters in London, AAG has approximately 8,000 employees and 2,100 company-owned stores and affiliated outlets across France, the U.K., Germany and Poland.
The Genuine Parts Co. financed the purchase, including the payoff of AAG’s existing debt arrangements, with approximately $2 billion of debt financing.