CHICAGO — LKQ Corporation completed its previously announced acquisition of Keystone Automotive Industries Inc. on Oct. 12. As a result of the merger, Keystone is now a wholly owned subsidiary of LKQ Corporation and Keystone stockholders will receive $48 in cash for each Keystone share they held prior to the closing.
Ronald Foster, the former chairman of the board of Keystone, and Rick Keister, the former president and chief executive officer of Keystone, were appointed to LKQ’s board of directors upon completion of the merger.
“This merger creates an alternative replacement parts business with over $1.6 billion of trailing annual revenue,” says Joseph Holsten, president and chief executive officer of LKQ Corporation. “Keystone’s aftermarket product line is a perfect complement to LKQ’s leading presence in the recycled parts marketplace. We now have an expanded national network of nearly 300 facilities that allow us to offer readily available, high-quality recycled, refurbished and aftermarket collision repair parts to our customers. We are proud to be the nation’s leading supplier of aftermarket collision parts, recycled OEM parts, refinished alloy wheels, and refinished plastic bumper covers.”
