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Atlanta-based Fortune 500 company Genuine Parts plans to split in two
Genuine Parts Co., the Atlanta-based parent of NAPA Auto Parts, announced its plan to spin off its automotive and industrial parts divisions into two separate public companies. The company believes this split will create more agile businesses better positioned for growth and new investments, with tailored strategies for their respective customers and market needs. With a market value exceeding $20 billion, the split is expected to be completed by 2027, requiring shareholder approval.