Genuine Parts Company has entered into definitive agreements to acquire Auto-Camping, Ltd. and select assets within the Janitorial and Sanitation ("Jan/San") business of Rochester Midland Corporation.
These two businesses combine to generate approximately $70 million in annual revenues, and both agreements are expected to close on July 1, 2016, subject to satisfaction of customary closing conditions.
Auto-Camping, with 20 locations across Canada, is a leading distributor of original equipment import parts in Canada. Auto-Camping specializes in original equipment automotive parts for European vehicles and sells to foreign repair specialists as well as original equipment dealers. The addition of Auto-Camping is expected to generate annual revenues of approximately $50 million (USD).
The Jan/San business supplies a variety of Janitorial and Sanitation accessories to more than 400 distributors primarily in North America. The Company plans to integrate this business into the Impact Products division of S.P. Richards and its growing Facilities and Breakroom Supplies product offering. This business is expected to generate incremental annual revenues of approximately $20 million.
Paul Donahue, President and Chief Executive Officer of Genuine Parts Company, stated, "The purchase of these two businesses represents our ongoing commitment to accretive growth through targeted acquisitions. The purchase of Auto-Camping complements our Olympus Import Parts acquisition in the first quarter of 2016 and further expands our product offering and distribution capabilities in the fast growing import parts sector of the aftermarket. Our Jan/San investment supports our diversification strategy and growth initiatives at S.P. Richards. We are pleased to add both businesses to the GPC family and we look forward to their future contributions to the growth of the company."
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