XPEL, Inc. (XPEL) recently announced that it has agreed to acquire certain assets of France Auto Racing, a distributor of automotive paint protection film serving France.
“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,” said Ryan Pape, XPEL CEO and president. “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.”
According to the company, the business will be run as a part of XPEL’s Netherlands-based European operation where it plans to add additional account management, training and customer service personnel. Additionally, XPEL will offer French-language training both onsite in France and at its Netherlands training center.
The terms were not disclosed and the closing is subject to customary conditions and is expected in the fourth quarter.