CHICAGO — LKQ Corp. has completed its acquisition of Keystone Automotive Industries, Inc. As a result of the merger, Keystone is now a wholly-owned subsidiary of LKQ Corp. 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.
"We are delighted to complete our merger with Keystone," said Joseph Holsten, president and chief executive officer of LKQ Corp. "This merger creates an alternative replacement parts business with more than $1.6 billion of trailing annual revenue. 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."
For more information about LKQ, go to: http://www.lkqcorp.com.