Kraco Enterprises to Acquire Auto Expressions from Shell Oil Company

Kraco Enterprises, a leading distributor of automotive aftermarket floor mats,announced that it has signed a purchase and sale agreement to acquire AutoExpressions. Auto Expressions is the automotive aftermarket accessories businessof Pennzoil-Quaker State Company dba SOPUS Products, a subsidiary of Shell OilCompany. Terms of the transaction were not disclosed. The Auto Expressions product line includes air fresheners, seat covers,sunshades, steering wheel covers, floor mats and auto organizers, with leadingpositions in the interior accessories and air care categories. Additionally, theAuto Expressions business has a powerful licensing platform, and demonstratedsuccess in distributing products featuring pop culture icon Ed Hardy beginningin 2008. "By uniting the #1 leader in the floor mats category and the #1 leader inautomotive air care and accessories products category, the combined entitieswill create an integrated, single source distributor and position us to betterserve our customers," said Bob Brocoff, Chief Executive Officer of KracoEnterprises, who will lead the combined company. "Our customers will experiencethe benefits of a broader product offering, and we will work with retailers tohelp them maximize their ROI in their retail space." Kraco Enterprises, which isowned by an affiliate of Sun Capital Partners, Inc., said it has no plans tochange the Auto Expressions brand. Auto Expressions is headquartered in Moorpark, California, and has offices inManchester, United Kingdom, and Hong Kong. Substantially all of the currentemployees of Auto Expressions are expected to join Kraco upon completion of thesale.