BOCA RATON, Fla. Kraco Enterprises, an affiliate of Sun Capital Partners private investment firm, has completed its acquisition of the Auto Expressions business headquartered in Moorpark, Calif. Kraco announced in June its plans to buy the business from Pennzoil-Quaker State Co. (dba SOPUS Products), a subsidiary of Shell Oil Co. Terms of the transaction were not disclosed.
“We are pleased with progress at Kraco Enterprises and will continue to seek out opportunities that allow us to build out the company’s leading market position in aftermarket automotive accessories,” said Anthony Polazzi, principal at Sun Capital Partners. “The addition of category leaders such as Auto Expressions position Kraco favorably by allowing the company to provide a full range of high quality innovative products to both new and existing clients.”
“I deeply appreciate the outstanding efforts of everyone involved with the Kraco/Auto Expressions integration including the teams from Sun Capital Partners, Kraco, Edgewater Technology and SOPUS Products,” said Bob Brocoff, CEO of Kraco Enterprises. “We are looking forward to completing this next milestone in our company’s growth and the benefits the integration will bring to our customer base. The synergy created by the two companies will allow for enhanced product development and streamlined customer touch points.”
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. In addition, the Auto Expressions business has a powerful licensing platform with demonstrated success in distributing products and has featured pop culture icon Ed Hardy since 2008.
Sun Capital acquired Kraco Enterprises in August 2008. Kraco is a distributor of automotive aftermarket floor mats including cargo floor mats for vehicle, home and shop use. In addition to Kraco Enterprises, Sun Capital counts among its affiliated portfolio companies a number of other businesses serving the automotive market, such as Powertrain Products, Vari-Form, ThermaSys Corp., NFP Steering DriveSol and Pace American.
Visit the Sun Capital Partners website to learn more.