Genuine Parts Company has signed a definitive agreement to acquire the final remaining NAPA Auto Parts distributor.
NAPA started with 28 distributors, and the purchase of Quaker City Motor Parts Co. means that all are now under the Genuine Parts umbrella, company spokesman Sid Jones said.
The acquisition adds 271 stores in eastern Pennsylvania; southern New Jersey; Maryland; Delaware; Washington, D.C.; northern Virginia; and northeastern West Virginia to Genuine Parts. Prior to the acquisition, Genuine Parts did not have any stores in those areas, and could not sell in those territories.
"We're really pleased," Jones said. "It was really when we would buy vs. if we would buy."
The last purchase of a distributor, Jones said, was more than 30 stores in Hawaii in 2003.
The purchase is scheduled to close at the beginning of May. Terms of the deal were not disclosed.
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