LKQ Corp., parent company of NTP-STAG, has announced that it has acquired the business and assets of Green Bean Battery LLC. Terms of the acquisition were not disclosed.
Founded in 2016, Green Bean is a hybrid battery reconditioner and installer that has developed a proprietary hybrid battery reconditioning process that creates a more reliable battery while simultaneously extending its useful life, according to the company.
Green Bean acquires hybrid battery cores from multiple sources, including LKQ, and reconditions them at its state-of-the-art facilities across eight trading zones located throughout the U.S. As a full-service provider, Green Bean installs its reconditioned batteries at its customers’ preferred locations in each of these trading zones where LKQ operates today.
Green Bean currently reconditions batteries for hybrid vehicles manufactured by Toyota, Honda, General Motors, Lexus, and Nissan.
“This acquisition reinforces our ongoing commitment to expand our parts and services offerings to meet the demands and opportunities that arise from technological changes in the automobile industry,” said Justin Jude, president of North America Wholesale Operations for LKQ. “Battery reconditioning represents a natural extension of our current powertrain remanufacturing operations. In addition, Green Bean’s entrepreneurial history, proprietary technology and sustainably focused products fit well with LKQ’s mission and culture, and we are proud to have them join our North American team.”
