“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, a private investment firm that purchased Kraco Enterprises in August 2008. “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.”
Prior to the deal, Kraco Enterprises was best known as a distributor of automotive aftermarket floor mats. The Auto Expressions product line includes air fresheners, seat covers, sunshades, steering wheel covers, floor mats and auto organizers. The business includes a notable licensing platform, including products featuring pop culture icon Ed Hardy.
“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.”
Pennzoil-Quaker State announced in May it was reviewing its car care portfolio under the SOPUS Products name and had signed a letter of intent to sell Auto Expressions to Kraco. SOPUS Products is a subsidiary of Shell Oil Co.
Kraco Enterprises said previously it has no plans to change the Auto Expressions brand.
Auto Expressions is headquartered in Moorpark, Calif., and has offices in Manchester, England, and Hong Kong. Virtually all current employees of Auto Expressions were expected to join Kraco upon completion of the sale, company officials said.