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S. P. Richards To Buy Ohio's Impact Products LLC
Automotive aftermarket distributor Genuine Parts Co. announced an acquisition for its Office Products Group.
S. P. Richards Company, the company's Office Products Group, has agreed to acquire Impact Products, LLC. The consummation of the deal is expected on July 1, 2014, contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals.
Headquartered in Toledo, Ohio, Impact Products, is a provider of facility, janitorial and safety supplies serving North America. Its broad customer base is served from distribution centers in Toledo and Walnut, California. The acquired business is likely to generate about $85 million in annual revenues.
Tom Gallagher, Chairman and Chief Executive of Genuine Parts, stated, "The addition of Impact Products better positions S.P. Richards for future growth. This new business serves to further diversify S.P. Richards' product offering and is complementary to our Garland C. Norris acquisition completed earlier in the year."
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