ATLANTA, April 13, 2022 /PRNewswire/ — Legitimate Parts Enterprise (NYSE: GPC) introduced nowadays an acquisition for its European Automotive small business. Productive April 12, 2022, Alliance Automotive Group (AAG), the Company’s wholly-owned automotive distribution business based in London, U.K., obtained Lausan Group (Lausan).
Lausan, established in 1953 and based in Bilbao, Spain, is a main distributor of automotive aftermarket parts in Spain and Portugal, which signify the 5th most significant motor vehicle parc in Europe. Lausan serves its customers from an founded network, which include 1 nationwide distribution heart, nine regional hubs and 37 suppliers. The Firm expects Lausan to make annual income of close to €115 million ($125 million USD).
“We are happy to grow our European automotive footprint with the addition of Lausan,” stated Paul Donahue, Chairman and Main Executive Officer of GPC. “With our entry into Spain and Portugal, we be expecting to additional fortify Lausan’s sector-top place by capitalizing on our European scale and purchasing skills, as nicely as leveraging the roll-out of our NAPA brand name across this region. We welcome the Lausan team to the GPC and AAG loved ones and are fired up to do the job jointly to increase the development possibilities in our European small business.”
With the addition of Lausan, AAG operates in nine European nations around the world: France, the British isles, Ireland, Germany, the Netherlands, Belgium, Poland, Spain and Portugal.
Forward Looking Statements
This press launch is made up of “ahead-hunting statements” that are issue to the protected harbor provisions of the Personal Securities Litigation Reform Act of 1995. All statements in the long term tense and all statements accompanied by words and phrases these types of as “expected,” “opportunities,” “glance forward,” or very similar expressions are intended to detect these kinds of ahead-searching statements. These ahead-searching statements consist of statements regarding the acquisition of Lausan by GPC’s subsidiary, AAG, such as individuals relating to the revenues envisioned to be produced by Lausan and AAG’s means to further more improve Lausan’s sector place. Ahead-searching statements are primarily based on information presently out there to GPC and involve estimates, expectations and projections. Traders are cautioned that all these forward-hunting statements are matter to threats and uncertainties, and significant things could bring about actual situations or effects to differ materially from individuals indicated by this kind of ahead-looking statements. With regard to the proposed acquisition, these threats, uncertainties and aspects consist of, but are not confined to: the danger that Lausan will not be integrated efficiently the hazard that the value personal savings, synergies and growth from the acquisition may perhaps not be fully understood or could consider longer to recognize than expected the diversion of management time on transaction-related concerns and the danger that costs connected with the integration of the business are increased than predicted.
Extra information and facts regarding other dangers and uncertainties that could influence GPC and