GPC (NYSE:GPC) expands, buys largest NAPA store owner MPEC

Grafa
2024-05-01

Full story: https://grafa.com/news/gpc--nyse-gpc--expands--buys-largest-napa-store-owner-mpec-216291

Genuine Parts Company (NYSE:GPC) has announced the strategic acquisition of Motor Parts & Equipment Corporation (MPEC), marking a significant expansion for its U.S. Automotive business.

MPEC, the largest independent owner of NAPA Auto Parts stores in the United States, boasts 181 stores across six states.

This move, effective April 30, 2024, aims to strengthen GPC's presence in priority markets, aligning with its strategic initiatives for growth.

Will Stengel, President & CEO-elect of GPC, expressed enthusiasm about the acquisition, noting, "We are pleased to announce the completion of this strategic acquisition, which aligns with our initiative to own more NAPA stores in priority markets."

He acknowledged the long-standing partnership with MPEC’s Executive Chairman, Joseph Hansberry, and extended a warm welcome to the new MPEC teammates joining GPC and NAPA.

 

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