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From: kidl9/28/2020 9:43:07 AM
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XPEL To Acquire French Distributor France Auto Racing

SAN ANTONIO -- (Business Wire) --

XPEL, Inc. (Nasdaq: XPEL) (“XPEL”, “the Company”), a global provider of protective films and coatings, today announced that it has agreed to acquire certain assets of France Auto Racing, a distributor of automotive paint protection film serving France.

Ryan Pape, President and Chief Executive Officer of XPEL, commented, “This is a continuation of our over-arching get close to the customer strategy. This acquisition will further enhance the development of the French market which we believe is highly underpenetrated for us and for the industry as a whole. We have a track record of successfully combining our resources with local, experienced operators to achieve success in markets around the world and the team at France Auto Racing will help us do that in France.”

The business will be run as a part of XPEL’s Netherlands-based European operation where we plan to add additional account management, training and customer service personnel. Additionally, the Company will offer French-language training both onsite in France and at its Netherlands training center.

Terms were not disclosed and closing is subject to customary conditions and is expected in the fourth quarter.
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