Transaction Unites Two Strong Automotive Aftermarket
Businesses with Complementary Product Offerings
Compton, Calif. – October 21, 2015 – Kraco Enterprises, a leading multi-product line supplier of automotive aftermarket accessories, today announced that it has completed the acquisition of Who-Rae, a leading 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 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 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 Kraco’s 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.
About Kraco Enterprises, LLC
Kraco Enterprises is a multi-product line supplier to the automotive accessories aftermarket with a leading position in all automotive accessories. Founded in 1954, Kraco operates a 500,000 square foot facility in Compton, California, with over three million cubic feet of palletized top automotive accessories ready to ship. Products are distributed to more than 15,000 auto supply and general merchandise retail stories in the U.S., Canada and select international markets.
About Sun Capital Partners, Inc.
Sun Capital Partners is a global private equity firm focused on identifying companies’ untapped potential and leveraging its deep operational and financial resources to transform results. Sun Capital is a trusted partner that is recognized for its investment and operational experience, including particular expertise in the consumer products and services, food and beverage, industrial, packaging, chemical, building products, automotive, restaurant and retail sectors. Since 1995, Sun Capital has invested in more than 315 companies worldwide across a broad range of industries and transaction structures. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Paris, Stockholm and Shenzhen. For more information, visit www.SunCapPart.com.