On Friday, LKQ Corp. announced its agreement to sell Elit Polska, a Polish company dealing in automotive parts, consumables, and workshop equipment, to MEKO AB. However, the financial details of the deal were not disclosed.
Justin Jude, LKQ's Chief Operating Officer, commented on the strategy, stating, "In keeping with our core strategic focus on assessing and streamlining our asset base, we have thoughtfully decided to divest Elit Polska after thorough consideration."
The deal is set to formally conclude in the second half of 2024. In 2023, Elit Polska reported an annual revenue of approximately $107 million.
