Genuine Parts Company acquires Safety Zone
Genuine Parts Company announced an acquisition for its Office Products Group.
S.P. Richards Company, the company's Office Products Group, has entered into a definitive agreement to acquire The Safety Zone LLC. Consummation of the transaction is expected on June 1, and is contingent upon satisfaction of customary closing conditions.
Safety Zone, headquartered in Guilford, Connecticut, is a direct importer and distributor of supplies and devices for safety, janitorial, medical, food service and food processing applications. Its broad customer base of more than 2,300 distributors is served from eight distribution centers in the U.S. and one in Canada. The addition of Safety Zone is expected to generate annual revenues of approximately $180 million.
Paul Donahue, president and chief executive officer of Genuine Parts Company, stated, "The purchase of Safety Zone represents our ongoing commitment to accretive growth through targeted acquisitions. Our investment in Safety Zone serves to further diversify S.P. Richards' product offering and is complementary to previous acquisitions such as Impact Products, Malt Industries and Garland C. Norris. The combination of these businesses along with our core facilities and breakroom supplies offering substantially enhance our growth opportunities with the traditional reseller customers as well as the janitorial and sanitation supply, food service, food processing and safety distributor channels. We are pleased to welcome the Safety Zone team to the S.P. Richards and GPC family. "