LKQ To Sell Elit Polska

(RTTNews) - LKQ Corp. (LKQ) Friday announced that it has inked a deal to sell Elit Polska, a Polish distributor of automotive parts, consumables, and workshop equipment to MEKO AB.

Financial terms of the deal are not revealed.

Justin Jude, chief operating officer of LKQ, said, "The evaluation and streamlining of our asset base is a core strategic pillar for our company. As part of this ongoing process, and after thorough consideration, we have made the strategic decision to divest Elit Polska."

The transaction is expected to be completed in the second half of 2024.

For the full year 2023, Elit Polska had posted revenue of around $107 million.