June 01, 2011
LKQ Corp. closed the acquisition of AkzoNobel Coatings Inc.'s paint distribution business consisting of 40 locations across the United States.
"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's co-CEO Robert L. Wagman.
In addition to distributing Akzo's paint in these 40 markets and the other markets in which LKQ currently distributes Akzo's paint, LKQ will continue to distribute paint for other manufacturers in the approximately 38 markets in which LKQ currently distributes paint and related products.
Wagman continued, "We are 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.
