Genuine Parts Co. (NYSE: GPC) is buying the rest of Exego Group, an automotive parts dealer, for $800 million.
The company bought a 30 percent stake in Exego in January 2012, with the option to purchase the rest of the company at a later date.
Exego sells automotive replacement parts and accessories in Australia and New Zealand. Genuine Parts also distributes automotive replacement parts, through the U.S., Canada and Mexico. The Atlanta-based company had 2012 revenue of about $13 billion.
The deal is expected to close on April 1.
On Feb. 1, 2012, the company acquired Light Fabrication to add to its electrical group and in May, bought Quaker City Motor Parts Co., a Delaware-based auto parts retailer. The deal follows others in the automotive parts industry, including Trive Capital’s purchase of Huron Inc., Linsalata Capital Partners’ acquisition of Stag-Parkway Inc. and Omega Environmental Technologies’ Global Temperature Control LLC buy.
For more coverage, see “Winners of the Auto Aftermarket.”