Genuine Parts, the Atlanta-based company that sells auto parts under the NAPA brand, said one of its units is buying a Minnesota company that distributes products for industrial automation and control.
The acquisition of Braas Company by Motion Industries, Genuine Parts’ industrial parts group, will generate revenue of about $90 million annually, according to a press release Wednesday.
Braas “serves thousands of customers throughout the Midwest and Southeastern United States from a network of five sales offices and three warehouses,” the release said.
An acquisition price wasn’t given.
Genuine Parts had sales of $15.28 billion in 2015 and reported a profit of $705.7 million. In addition to its auto and industrial parts businesses, it also has an office products unit and an electrical materials group.
CEO Paul Donahue said Braas is a well-established distributor in a segment with “compelling” growth prospects, adding that “the addition of such a well-positioned business serves to substantially enhance our automation capabilities.”
About the Author
