Alliance Automotive Group (AAG), the Company’s wholly-owned automotive distribution company based in London, U.K., has entered into a definitive agreement to acquire Todd Group (Todd). The transaction is expected to close in the fourth quarter of 2019 and is contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals.
Todd, based in Normandy, France, is a leading distributor of truck parts and accessories for the independent heavy-duty aftermarket. Through a national network of 35 branches, Todd serves its customers with parts and services for all brands of trucks, trailers, semi-trailers, buses and commercial vehicles. The Company expects the acquired business to generate annual revenues of approximately $85 million (US$).