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Letter to the Editor
Friday September 5
Genuine Parts Company Announces Proposed Acquisition of NAPA Distributor
Larry Prince, Chairman of the Board and Chief Executive Officer of Genuine Parts Company has announced, "A definitive agreement has been signed relating to the acquisition of the NAPA Hawaii business owned by Schuman Carriage Company, Ltd., a long-standing NAPA distributor with annual sales of approximately $35 million. Genuine Parts Company will purchase for cash substantially all of the assets of NAPA Hawaii. Consummation of the transaction is contingent upon compliance with the terms of the agreement and any applicable regulatory requirements. NAPA Hawaii is headquartered in Honolulu, Hawaii, and serves approximately 32 independently-owned NAPA AUTO PARTS stores and 4 company-owned stores located throughout the Hawaiian Islands and Samoa."Prince stated, "We believe the acquisition of NAPA Hawaii offers us excellent growth opportunities in their markets. We are pleased that we were able to reach this agreement with such a quality organization and look forward to the contributions they will make to our company."
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