PSA Peugeot Citroen is a French car manufacturer and the second largest car manufacturer in Europe. The headquarters is in Paris. In 1974 Peugeot SA acquired 38.2% of Citroen; in 1976 brought this share (by that time Citroen was close to bankruptcy) to 89.95%. After that, the PSA Group was created (where PSA is an abbreviation for Peugeot Societe Anonyme), which was later renamed PSA Peugeot Citroen. PSA Peugeot Citroen produces cars under the Peugeot and Citroen brands. The two brands owned by the company have independent marketing and retailing structures; however, the development and production of models is carried out by common departments. The PSA Group also includes the EUROREPAR brand, founded in France in 2004, which supplies and manufactures spare parts for post-warranty service of PSA vehicles.