Kraco Enterprises, a leading multi-product line supplier of automotive aftermarket accessories, has completed the acquisition of Who-Rae, a manufacturer and distributor of automotive aftermarket accessories. Financial terms of the transaction were not disclosed.
Founded in 2002 and based in Melbourne, Australia, Who-Rae provides its international customer base with a variety of automotive aftermarket products including seat covers, floor mats and sun shades under Who-Rae-owned brands including Who-Rae, Ergo-Drive and 2Air. The company also distributes a range of licensed products from brands such as Dickies, Stanley and Celessence. Who-Rae has a broad customer base in mass–market, automotive specialty and club store retailers.
Kraco says it will leverage the strengths of each business to form the leading automotive aftermarket accessories company and continue to build upon a strong track record of innovation, quality and customer service.
“We’re excited to bring together these two market leaders, as our complementary product offerings, well–respected brands and innovative products and packaging will further broaden our global reach,” said Larry McIsaac, CEO of Kraco Enterprises. “We will continue to seek out strategic partnership opportunities to build on Kraco¹s proven growth platform.”
“By joining Who-Rae’s well–recognized international distribution channels with Kraco’s broad distribution network, customers will have greater access to a more robust product offering, which we believe will create an even stronger value proposition,” said Anthony Polazzi, a member of the Kraco Enterprises Board of Directors.
Kraco Enterprises, an affiliated portfolio company of Sun Capital Partners Inc., previously acquired the automotive aftermarket accessories business Auto Expressions from Royal Dutch Shell in 2010. That transaction brought together floor mats, air care solutions and other interior accessories from two category leaders to create the premier multi-product line supplier to the interior automotive accessories aftermarket.
