GPC ASIA PACIFIC ACQUIRES RARE SPARES
Rare Spares was founded in 1974, originally supplying new and refurbished parts for early model Holdens
GPC Asia Pacific, best known for its Repco business, says it is delighted to announce its acquisition of RSP Automotive and Industrial (Rare Spares).
Rare Spares has built one of the most trusted, respected, and recognised names in the automotive restoration market. Originally supplying new and refurbished parts for early model Holdens, it has diversified into a company that specialises in industrial rubber products, pressed metal products, clips and fasteners, and automotive OEM products.
Repco has earned the trust of customers for almost 100 years. Its many achievements include famously partnering with Sir Jack Brabham in the 1960s for three Formula 1 Grand Prix wins in the BT19, powered by a Repco Brabham engine. In the 1970s Repco developed and built the F5000 engine for Formula 5000 racing, which won races in the Australian Grand Prix, the New Zealand Grand Prix, the Australian Driver’s Championship, and the Australian Sports Car Championship. From 2021, Repco will bring fans the Repco Supercars Championship and the Repco Bathurst 1000.
Recently, Repco was recognised as one of the best places to work in the Retail, Hospitality, Tourism and Entertainment category by the Australian Financial Review, and won Inside Retail awards for Best Instore Customer Service Initiative and Best Customer Service Team.
“RSP and Rare Spares will continue to operate under the Rare Spares banner, under my leadership, and will be fully supported by the Repco crew,” Rare Spares Managing Director, Lance Corby, said.
“In addition, my existing leadership team and operational structure will remain in place and the RSP and Rare Spares brands will continue to exist and grow in the market.
“There is only upside to this, you won’t really see a change in the Rare Spares brand at all. Repco has a lot of tools that we can piggy-back off to help our development and supply faster to market – product sourcing, shipping and so on. There are so many synergies with the two companies working together.”
GPC Asia Pacific has entered into a binding agreement with Rare Spares and subject to customary pre-completion requirements, this will take effect from 1 June.
“We couldn’t be more excited to have the Rare Spares team join our GPC Asia Pacific family, and we’re fully committed to supporting the continued development and growth of Rare Spares under Lance Corby’s leadership,” Repco Australia Executive General Manager, Wayne Bryant, said.
“We recognise that Rare Spares is an amazing business, and we are determined to build upon its legacy by continuing to operate Rare Spares stores, staffed by passionate and experienced car restoration experts.
“The Rare Spares product offering is quite differentiated, but highly complementary to Repco’s broad range of auto parts and accessories and will enable us to provide car enthusiasts of Australia with a really compelling offer.
“Rare Spares will operate alongside Repco and will ensure that automotive enthusiast and professional workshops customers have access to everything they need to love, fix and drive their cars now and into the future.”
For more from GPC Asia Pacific, visit www.gpcasiapac.com