LKQ Corporation today announced that it has closed the acquisition of AkzoNobel
Coatings’ paint distribution business consisting of 40 locations
across the U.S.
"Finalizing this acquisition is yet another milestone for our company
and a validation of LKQ’s commitment to enhancing our customers’
experience by offering a broad and diverse product mix accessible
through our vast distribution network," said LKQ co-CEO Robert L.
In addition to distributing AkzoNobel’s paint in these 40 markets and the other markets in which LKQ currently distributes AkzoNobel’s paint, LKQ will continue to distribute paint for other manufacturers in the approximately 38 markets in which it currently distributes paint and related products.
Wagman continued, "We’re excited to have acquired a strong team of
employees who will continue to support the customer base, and we look
forward to continuing the growth of our paint distribution business and
becoming the market leader for the auto collision repair industry’s
paint related needs."
The acquisition became effective May 27, 2011. Financial details were not disclosed.