Genuine Parts Co. announced May 22 that it agreed to acquire Australian distributor Inenco Group Pty. Ltd. for an undisclosed amount.
The Atlanta-based company, which owns 35% of Inenco, will buy the remaining 65% stake in the distributor.
Genuine Parts expects to close the deal July 1, subject to customary closing conditions.
Inenco Group is a distributor of bearings, power transmission, sealing, fasteners, driveshafts, drives and motors, belting, fluid power, engineering services, lifting and safety equipment, tools, and maintenance products.