MEKO completes the acquisition of the company Elit Polska, significantly expanding its presence in Poland. The acquisition is expected to yield substantial synergy effects and makes MEKO the third largest player in the Polish automotive aftermarket.
On May 10, 2024, MEKO announced that it had signed an agreement to acquire Elit Polska from its owner, LKQ Corporation. Previously, MEKO held a market share of approximately 5 percent in Poland and, through this acquisition, strengthens its position with a market share of around 8 percent.
Elit Polska is a well-established wholesaler of auto parts, consumables, and workshop equipment, with two warehouses and 49 branches at locations that significantly expand MEKO's physical presence in Poland. After a standard regulatory review, the acquisition has now been approved and the agreement finalized.
"Elit Polska complements us very well in Poland and allows us to advance our positions in one of Europe's largest markets. This gives us even better opportunities to serve our customers and continue to grow organically. We will also be able to extract coordination advantages, which is important in the competitive market in Poland," says Pehr Oscarson, President and CEO of MEKO.
MEKO established itself in the Polish market in 2018 through the acquisition of Inter-Team, a spare parts wholesaler that also conducts export operations to countries including Germany.
