COLMAR, PA — R&B, Inc., a supplier of OE Dealer “Exclusive” automotive replacement parts, automotive hardware and brake products, has signed a letter of intent to acquire The Automotive Edge/Hermoff, a privately held company which manufactures and distributes exhaust manifolds, catalytic converters and related exhaust components throughout Canada and the United States. The company is headquartered in Ontario, Canada.
Commenting on the acquisition, Richard Berman, chairman, president and CEO of R&B, said, “We are very excited about building a strong base in Canada to launch our products through the acquisition of Hermoff. The existing distribution system of Hermoff, along with its experienced management team, will allow us to quickly reach major Canadian customers with many of our existing products. The addition of catalytic converters will permit us to further enhance the breadth of our product lines – creating even greater opportunities for our customers.”
Berman said the company had been interested in expanding its Canadian opportunities for some time, but never were able to find the right combination of people, product focus and distribution, until now.
“In Hermoff and their management team, we believe we have found just the right partner to build a strong Canadian market for our Dorman OE exclusive parts,” Berman said.
The transaction is scheduled to be completed in June 2005, subject to certain pre-closing conditions and post-closing adjustments.
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