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XPEL, Inc. (NASDAQ: XPEL) announced the acquisition of the paint protection film business from Car Care Products Australia, which serves the Australian market. This strategic move allows XPEL to directly serve customers in Australia and enhance its market presence. The company plans to invest in local support such as training and marketing. This acquisition is part of XPEL's strategy to expand globally and strengthen its position in the protective film industry.
Positive
Acquisition enhances XPEL's market presence in Australia.
Plans for increased local support, training, and marketing.
Negative
None.
SAN ANTONIO--(BUSINESS WIRE)--
XPEL, Inc. (Nasdaq: XPEL) (the “Company”), a global provider of protective films and coatings, today announced the acquisition of the paint protection film business of Car Care Products Australia, a distributor of automotive protective films serving Australia. Car Care Products Australia will remain in business selling its non-paint protection film products.
Mat Moreau, Senior Vice President, Sales and Product of XPEL, stated, “Australia is a great market for us and one we think we can develop greatly. We’re excited to begin serving our customers in Australia directly and to increase our investment in the market for their benefit.”
The Company expects to add training, marketing and other local operational support in the coming months.
About XPEL, Inc.
XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and commercial/residential window films, and ceramic coatings. With a global footprint, a network of trained installers and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support and world-class training. XPEL, Inc. is publicly traded on Nasdaq under the symbol “XPEL”.
Safe harbor statement
This release includes forward-looking statements regarding XPEL, Inc. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, and execution of the company's growth strategy. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "is expected," "expects," "scheduled," "intends," "contemplates," "anticipates," "believes," "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of XPEL. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, performance and acceptance of the company's products, economic factors, competition, the equity markets generally and many other factors beyond the control of XPEL. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
