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Genuine Parts Company

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Genuine Parts Company
Company typePublic
NYSE: GPC
S&P 500 component
Founded1925; 99 years ago (1925), in Atlanta, Georgia, U.S.
FounderCarlyle and Malcolm Fraser
HeadquartersAtlanta, Georgia, U.S.
Key people
Thomas C. Gallagher (chairman)
Will Stengel (CEO)
Number of employees
48,001
SubsidiariesNAPA Auto Parts
Websitewww.genpt.com

Genuine Parts Company (GPC) is an American company engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. GPC serves numerous customers from more than 2,600 operations around the world, and has approximately 48,000 employees.[1] It owns the NAPA Auto Parts brand.

Company overview

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Founded in 1925,[2] GPC is headquartered in Atlanta, Georgia and consists of multiple subsidiaries that distribute automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The company has paid a cash dividend to shareholders every year since going public in 1948.[3] The company moved into its new headquarters building in the Wildwood area of Cobb County, Georgia in June 2016.[4]

S. P. Richards was sold on June 30, 2020, to H.I.G. Capital.[5][6]

History

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Genuine Parts Company (GPC) was founded by brothers Carlyle and Malcolm Fraser in Atlanta in 1928.[7]

GPC's headquarters were located at Atlanta's Circle 75, in Cobb County, starting in 1979. Approximately 400 employees worked in the 115,000-square-foot space. In 2014, GPC announced plans to relocate its headquarters to Wildwood Office Park, next to an existing operational support facility.[8]

William P. Stengel II is GPC's president and chief executive officer (CEO). He joined the company as GPC's first chief transformation officer in 2019,[9][10] became president in 2021,[11] and became chief operating officer in 2023.[12] Stengel succeeded Paul Donahue, who became the CEO of GPC in 2016. Donahue succeeded Tom Gallagher,[13] who initially continued as chairperson,[14] until Donahue was elected by the board of directors to that role in 2019.[15][16][17] Donahue transitioned to executive chairman in 2024.[18][19]

GPC ranked number 239 on Forbes' America's Best Employers list in 2017 and number 262 on the magazine's list of America's Largest Public Companies in 2018. The company also ranked number 678 on Forbes' World Best Employers list in 2020, and number 731 on the Forbes Global 2000 list in 2024.[20]

Company timeline

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  • 1925 National Automotive Parts Association established.
  • 1928 Genuine Parts Company established.
  • 1948 GPC Initial Public Offering.
  • 1975 Acquired S.P. Richards Company.
  • 1976 Acquired Motion Industries.
  • 1994 Joint Venture with Auto Todo.
  • 1998 Acquired EIS.
  • 2008 Acquired Altrom.
  • 2013 Acquired GPC Asia Pacific.[21]
  • 2016 Acquired AMX Superstores
  • 2016 Acquired Auto-Camping
  • 2017 Acquired Inenco Group (Australia).[22]
  • 2021 Acquired RSP Automotive & Industrial.[23]
  • 2024 Acquired Motor Parts & Equipment Corporation (MPEC)[24]

Subsidiaries

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The Automotive Parts Group distributes automotive replacement parts, accessory items and service items throughout North America, Australia and New Zealand. In North America, parts are sold primarily under the NAPA (National Automotive Parts Association) brand name. The company's GPC Asia Pacific business serves the Australasian markets primarily under the brand name Repco.[3]

The Automotive Parts Group supports over 6,000 NAPA AUTO PARTS stores throughout the United States, 700 wholesalers in Canada and 481 automotive locations in Australia and New Zealand. These stores sell to both the Retail (DIY) and Commercial (DIFM) automotive aftermarket customer and cover the majority of all domestic and foreign motor vehicle models.[3]

The Industrial Parts Group, operating under the name Motion Industries, offers more than 5.9 million industrial replacement parts and related supplies. The Group serves over 150,000 MRO and OEM customers throughout North America and in all types of industries. These include the food and beverage, forest products, primary metal, pulp and paper, mining, automotive, oil and gas, petrochemical and pharmaceutical industries. Strategically targeted specialty industries include power generation, waste-water treatment facilities, wind power generation, solar power, government projects, pipelines, railroads and ports, among others. Motion Industries is headquartered in Birmingham, Alabama and operates 15 distribution centers, 523 branches, and 39 service centers in the United States, Canada, Mexico, and Puerto Rico.[3]

The Business Products Group, operating under the name S.P. Richards, distributes more than 61,000 items to over 5,200 resellers and distributors throughout the United States and Canada from a network of 60 distribution centers. Customers include independently owned office product dealers, large contract stationers, national office supply superstores, mail order distributors, internet resellers, college bookstores, office furniture dealers, janitorial and sanitation supply distributors, safety product resellers and food service distributors. S.P. Richards is headquartered in Atlanta, Georgia and operates 34 full-stocking distribution centers, 2 furniture only distribution centers, 5 S.P. Richards Canada distribution centers, 1 GCN Distribution Center, and 2 impact products distribution centers.[3]

The Electrical/Electronic Materials Group, operating under the name EIS, Inc. is one of North America's leading distributors of process materials, production supplies, industrial MRO and value added fabricated parts. EIS, Inc. is headquartered in Atlanta, Georgia, and operates 49 branches and 7 fabrication facilities in the United States, Canada, Mexico, Puerto Rico and the Dominican Republic.[3] Effective in 2018, EIS was combined into Motion Industries and will be identified as its Electrical Specialties Group.[25]

References

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  1. ^ "Genuine Parts". Fortune. Retrieved 2018-11-22.
  2. ^ "About Us". Genuine Parts Company. Archived from the original on 2012-03-21. Retrieved 2011-03-20.
  3. ^ a b c d e f Genuine Parts Company 2014 Annual Report
  4. ^ "Genuine Parts moving its home base to Wildwood, away from new Braves stadium - Atlanta Business Chronicle". Archived from the original on 2014-11-21.
  5. ^ "Office products distributor S.P. Richards gets new owners". 2 July 2020.
  6. ^ "Genuine Parts Company Announces Sale of S.P. Richards Company".
  7. ^ "Malcolm H. Fraser, 91, Retailer of Auto Parts". The New York Times. The New York Times Company. February 19, 1994.
  8. ^ Saporta, Maria (November 20, 2014). "Genuine Parts moving its home base to Wildwood, away from new Braves stadium". Atlanta Business Chronicle. American City Business Journals. Archived from the original on November 21, 2014.
  9. ^ Mandel, Eric (November 18, 2019). "Genuine Parts picks former HD Supply exec as its first chief transformation officer". Atlanta Business Chronicle.
  10. ^ Hockett, Mike (November 19, 2019). "Genuine Parts Appoints former HD Supply Facilities Maintenance Head as Chief Transformation Officer". Industrial Distribution.
  11. ^ Mandel, Eric (January 19, 2021). "Genuine Parts promotes chief transformation officer to president". Atlanta Business Chronicle.
  12. ^ Armstrong, Zach (December 8, 2022). "Genuine Parts Co. shuffles top executives". Atlanta Business Chronicle.
  13. ^ Hockett, Mike (April 26, 2016). "Genuine Parts Company Names Donahue New CEO". Industrial Distribution.
  14. ^ Saunders, Jessica (April 24, 2017). "Gallagher retiring as executive officer of Genuine Parts Co". Atlanta Business Chronicle.
  15. ^ Mandel, Eric (April 22, 2019). "Genuine Parts CEO picked to be sixth chairman in the company's 91-year history". Atlanta Business Chronicle.
  16. ^ Edmonson, Crystal (August 8, 2023). "After 95 years, Genuine Parts Co. aims to be disruptor in industry (podcast)". Atlanta Business Chronicle.
  17. ^ Sicurella, Savannah (November 10, 2023). "'Hybrid approach is here:' Genuine Parts Co. wants employees in the office". Atlanta Business Chronicle.
  18. ^ Fuhrmeister, Chris (April 30, 2024). "Genuine Parts Co. CEO Paul Donahue to retire; successor named". Atlanta Business Chronicle.
  19. ^ "Genuine Parts CEO Paul Donahue to be replaced by operations head". Reuters. April 29, 2024.
  20. ^ "Genuine Parts". Forbes. ISSN 0015-6914. OCLC 6465733.
  21. ^ "Genuine Parts Company".
  22. ^ "Genuine Parts Company Completes Acquisition Of Leading Industrial Distributor In Australasia - Jul 10, 2019". Genuine Parts Company. Retrieved 2019-10-11.
  23. ^ "Repco buys Rare Spares - May 21, 2021". Go Auto News. Retrieved 2023-11-10.
  24. ^ "Genuine Parts Company Announces Acquisition of Largest NAPA Independent Store Owner in the U.S." Genuine Parts Company. Retrieved 2024-08-10.
  25. ^ "Genuine Parts Company". Archived from the original on 2015-01-13.
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  • Business data for Genuine Parts Company:
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