The Georgia Historical Society (GHS) on April 26 recognized Cumberland-based Genuine Parts Company with a Georgia historical marker as the latest honoree of the Georgia Business History Initiative.
Each year, the GHS initiative recognizes iconic companies in the state to teach Georgia students, citizens and toursts alike about the pivotal role of the state’s leading businesses in the economic, cultural and social development of Georgia and the U.S.
“Today we celebrate the Genuine Parts Company’s 90 years of service to the state of Georgia, the nation, and the world,” said Dr. W. Todd Groce, president and CEO of GHS. “It is our goal to inspire future leaders through the case studies and education materials we develop for the iconic companies that are part of the Georgia Business History Initiative. We look forward to sharing the fascinating and important story of Genuine Parts and the other BHI designees with Georgia students and educators for years to come.”
Founded in 1928, by Carlyle Fraser, Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts and materials, and business products. Today, it is a leading global parts distributor with over 3,100 operations in 10 countries, and approximately 48,000 employees.
The ceremony and dedication, part of Genuine Parts employee appreciation day, was held at the company’s corporate headquarters located at 2999 Wildwood Drive in the Cumberland area.
The historical marker reads:
Genuine Parts Company
In 1928, Carlyle Fraser purchased the Motor Parts Depot in Atlanta, Georgia for $40,000, and renamed the parts store Genuine Parts Company (GPC). The original store had annual sales of just $75,000, and six employees. Over the years, GPC, in relationship with the NAPA brand, grew rapidly as independent garages for car repair emerged to meet the needs of the nation’s growing number of automobiles. GPC has continued to grow into an international service organization through the acquisition of companies in the automotive, industrial, and business products distribution industries. The Company has paid a cash dividend to shareholders every year since going public in 1948. At its 90th anniversary in 2018, GPC served hundreds of thousands of customers from more than 3,100 operations and had approximately 48,000 employees in North America, Australasia, and Europe.
Erected by the Georgia Historical Society and Genuine Parts Company
For more information, visit georgiahistory.com.