Genuine Parts Company (NYSE:GPC) announced that Motion Industries, the Company’s Industrial Parts Group, has acquired Braas Company.
Braas Company is a leading multi-regional distributor of products and services for industrial automation and control, specializing in pneumatics, motion control, industrial networking, machine safety, robotics and related industrial parts. Founded in 1961, Braas Company is based in Eden Prairie, Minnesota, and serves thousands of customers throughout the Midwest and Southeastern United States from a network of five sales offices and three warehouses. The addition of Braas Company is expected to generate annual revenues of approximately $90 million.
A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.