BREAKING: ECP PARENT TO ACQUIRE STAHLGRUBER

Euro Car Parts’ parent company LKQ Corporation has entered an agreement to acquire Stahlgruber GmbH in a deal valued at roughly €1.5bn.

Stahlgruber is one of Germany’s largest factor chains and, as was discussed at last week’s IAAF conference, it was known to be for sale.

A report in the October issue of CAT highlighted how Stahlgruber recently invested in a vast automatic warehouse using robotics from TGW Logistics. The firm has over 500,000 SKUs and 100,000 clients on its books.

LKQ plans to complete the deal in March or April of next year, subject to usual regulatory approvals.

John S. Quinn CEO of LKQ said: “The LKQ Europe management team and I look forward to working with Stahlgruber’s management team and leveraging our combined best practices to maximize the benefits of scale across the continent.”

Heinz Reiner Reiff, CEO of Stahlgruber Otto Gruber AG, added: “I am very excited about the meaningful benefits that will occur by combining our complementary cultures and industry leading management, which together position Stahlgruber to achieve the continued growth of its European businesses. Our acceptance of LKQ shares as part of the consideration emphasizes our belief in the value of this combination.”

More on this deal as we get it.

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

ECP BOSS WARNS OF BLOCK EXEMPTION ‘EXISTENTIAL THREAT’

Andy Hamilton rails against VM ‘mini monopolies’ and demands that the UK government and the CMA take action in face of ‘abuse’ of the rules

Read More

PRA BOSS CALLS FOR FORECOURT ‘PINGDEMIC’ EXCLUSION

‘Forecourt workers are essential and should be exempt from self-isolation requirements if fully vaccinated’, say PRA

Read More

YORKSHIRE EXHAUST SPECIALISTS SAY ‘YES’ TO AAG BUYOUT

Leeds-based firm had been a UAN member and employed over 60 people

Read More

NEW TRADE COALITION FORMED TO FIGHT BLOCK EXEMPTION THREAT

AFCAR comprises of bosses from four major UK trade bodies

Read More

HALFORDS TO HIRE 700 TECHNICIANS

Chain hiring following a busy year for vehicle mobile servicing and pedal cycles

Read More

Go to comments

Your email address will not be published. Required fields are marked *