Genuine Parts to acquire a 35% stake in Inenco for $70m.

Genuine Parts, a distributor of automotive replacement parts, agreed to acquire a 35% stake in Inenco, an industrial distributor of key product categories, for $70m. "We are very pleased to partner with Genuine Parts Company as they expand their industrial footprint into Australasia. Their value based sales philosophy, understanding of our industry and commitment to future growth align well with the goals and values at Inenco, and we look forward to growing our business together," Mitchel Martin-Weber, Inenco Director.