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Genuine Parts acquires Hennig Fahrzeugteile

Genuine Parts Co. said it agreed to acquire Hennig Fahrzeugteile Group through its wholly owned automotive distribution company, Alliance Automotive Group.

The buyer said it expects Hennig to produce annual revenues of about $190 million.

"Hennig Fahrzeugteile Group is a premier supplier of vehicle parts in the German marketplace, and the addition of this business serves to further expand our presence and scale in Europe as we build on our global growth strategy," said Genuine Parts CEO Paul Donahue.

The automotive parts distribution company said the transaction should close by Aug. 1, subject to customary conditions and regulatory approvals. Financial terms were not disclosed.