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LKQ To Buy US Paint Distribution Business From AkzoNobel

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LKQ Corporation (NASDAQ: LKQX) announced its plans to buy the US paint distribution business, including 40 stores, from AkzoNobel Coatings Inc.

"We have long admired the body shop solutions offered by AkzoNobel, recognized as a color technology leader and the world's largest coatings company," said LKQ's co-CEO Robert L. Wagman. "This transaction reflects LKQ's commitment to being a one-stop-shop solution to the collision repair industry.”

The transaction is likely to close by May 27. Financial details of the deal were not disclosed.

LKQX shares fell 1.65% to close at $26.15 yesterday.

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