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MarketScreener Homepage  >  Equities  >  Nyse  >  Genuine Parts Company    GPC

GENUINE PARTS COMPANY

(GPC)
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GENUINE PARTS CO : Other Events, Financial Statements and Exhibits (form 8-K)

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06/30/2020 | 05:07pm EDT

Item 8.01 Other Events

On June 30, 2020, Genuine Parts Company ("the Company") 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, comprised of The Safety Zone and Impact Products operations, to an affiliate of H.I.G. Capital. Both transactions are effective today. The Company expects to use the net cash proceeds from the transactions to enhance its cash position for capital allocation and to repay debt.

A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits
Exhibit Number           Description

99.1                       Press Release dated June 30, 2020
                         The cover page from this current report on Form 8-K, formatted in inline
104                      XBRL




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