Chicago-based used auto parts provider LKQ Corporation has acquired Green Bean Battery, a hybrid battery reconditioning and installing business for an undisclosed amount.
The company noted in a media statement on Tuesday that the acquisition will expand its parts and servicing business. Justin Jude, president of LKQ’s North America wholesale business said that the technology used by Green Bean as well as the products it serviced fit well with LKQ’s strategy to meet new demand arising from changes in technology in the auto sector.
Green Bean has developed a reconditioning process for hybrid batteries that extends their life and reliability. The company processes hybrid batteries for Toyota, Honda, General Motors, Lexus, and Nissan vehicles. It also buys battery cores to recondition them. Green Bean’s plants are located throughout the US with the trading zones it operates in being the same as LKQ’s.