Genuine Parts (GPC) Unit Acquires Braas Company
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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.
Paul Donahue, President and Chief Executive Officer of Genuine Parts Company, stated, "Braas Company is a well-established distributor of products and services in the industrial automation and control categories. The growth prospects for this segment of the industrial marketplace are compelling, and the addition of such a well-positioned business serves to substantially enhance our automation capabilities. We are pleased to welcome the Braas Company team to the Motion Industries and GPC family, and we look forward to their future contributions to our collective success."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- B&G Foods (BGS) Acquires Victoria Fine Foods for $70M
- SoTHERLY Hotels (SOHO) Approves $10M Stock Buyback Plan
- Celgene (CELG) to Acquire Acetylon Pharmaceuticals
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!