• Kraco Enterprises to Acquire Auto Expressions from Shell Oil Company

    Kraco Enterprises to Acquire Auto Expressions from Shell Oil Company

    Business Wire, June 09, 2010

    COMPTON, Calif. — Kraco Enterprises, a leading distributor of automotive aftermarket floor
    mats, today announced that it has signed a purchase and sale agreement
    to acquire Auto Expressions. Auto Expressions is the automotive
    aftermarket accessories business of Pennzoil-Quaker State Company dba
    SOPUS Products, a subsidiary of Shell Oil Company. Terms of the
    transaction were not disclosed.

    The Auto Expressions product line includes air fresheners, seat covers,
    sunshades, steering wheel covers, floor mats and auto organizers, with
    leading positions in the interior accessories and air care categories.
    Additionally, the Auto Expressions business has a powerful licensing
    platform, and demonstrated success in distributing products featuring
    pop culture icon Ed Hardy beginning in 2008.

    By uniting the #1 leader in the floor mats category and the #1 leader
    in automotive air care and accessories products category, the combined
    entities will create an integrated, single source distributor and
    position us to better serve our customers, said Bob Brocoff, Chief
    Executive Officer of Kraco Enterprises, who will lead the combined
    company. Our customers will experience the benefits of a broader
    product offering, and we will work with retailers to help them maximize
    their ROI in their retail space. Kraco Enterprises, which is owned by
    an affiliate of Sun Capital Partners, Inc., said it has no plans to
    change the Auto Expressions brand.

    Auto Expressions is headquartered in Moorpark, California, and has
    offices in Manchester, United Kingdom, and Hong Kong. Substantially all
    of the current employees of Auto Expressions are expected to join Kraco
    upon completion of the sale.

    Sawaya Segalas & Co., LLC(1), a leading consumer
    investment banking firm, acted as exclusive financial adviser to SOPUS
    Products in connection with the transaction.

    (1) Securities offered through Sawaya Segalas Securities, LLC

    About Kraco Enterprises, LLC

    Kraco Enterprises is the leading distributor of automotive aftermarket
    floor mats including cargo floor mats for vehicle, home, and shop use.
    Founded in 1954, Kraco operates a 400,000 square foot facility in
    Compton, California, with over three million cubic feet of palletized
    top quality floor mats ready to ship. Products are distributed to more
    than 15,000 auto supply and general merchandise retail stories in the
    U.S. and Canada.

    About Auto Expressions

    Auto Expressions is a branded line of quality automotive air care and
    accessories products, available in the auto section of many major retail
    chains around the world. The Auto Expressions name appears on a wide
    variety of consumer car-care products that include air fresheners, seat
    covers, sunshades, steering wheel covers, floor mats, organizers, and
    more
    automotive interior accessories

     July 29th, 2010  admin   No comments

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