Genuine Parts Company Announces Sale Of S.P. Richards Company
(WorldNews Belgium)

ATLANTA, June 30, 2020/PRNewswire / -- Genuine Parts Company (NYSE: GPC) announced today that it has completed the sale of its S.P. Richards operations through two separate transactions. The Company has sold S.P. Richards` core U.S. operations to an Investor Group led by industry professionals and has sold S.P. Richards` Supply Source Enterprises business (`SSE`), comprised of The Safety Zone and Impact Products operations, to an affiliate of H.I.G. Capital. Both transactions are effective today, June 30, 2020. GPC expects to use the net cash proceeds from the transactions to enhance its cash position for capital allocation and to repay debt. S.P. Richards Co. is a leading national business...