Genuine Parts (GPC) Unit Acquires Braas Company
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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."
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