Reddi Brake to Acquire 2 Auto Parts Companies

Reddi Brake Supply in Ventura has signed a letter of intent to acquire two auto parts companies in exchange for Reddi Brake stock and cash.

Express Undercar Parts Warehouse of California has four warehouse operations in Orange County, and Express Undercar Parts Warehouse of Nevada has two locations in Las Vegas and one in Reno.

The purchase could close within 45 days. The exact price of the acquisition was not disclosed.

“We are pleased with this acquisition since it falls in line with our new structured growth in very strong markets and will contribute profitable volume to our operations immediately,” said Richard McGorrian, Reddi Brake president and chief executive officer.

Reddi Brake Supply operates 85 Reddi Brake outlets in 25 states providing two-step distribution of brake systems, chassis components and other auto undercarriage parts to professional installers.