Copart, Inc. (NASDAQ: CPRT), a leading online salvage vehicle auction company, today announced it has acquired Berpa Auto Auction, Inc., a privately held automotive auction located in Montreal, Quebec, Canada.
“This is an important acquisition for Copart,” said A. Jayson Adair, Copart’s CEO. “It provides us with our first location in Eastern Canada and represents an important step in completing the build out of our network of locations across Canada. It complements our existing central region facilities located in the province of Ontario and our western region facilities located in the province of Alberta.”
Copart, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some states, to end users. Copart remarkets the vehicles through Internet sales utilizing its patented VB 2 technology. Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships and others as well as cars sourced from the general public. The company currently operates facilities in the United States and Canada ( www.copart.com), the United Kingdom ( www.copart.co.uk), Brazil ( www.copart.com.br), Germany ( www.copart.de), the United Arab Emirates ( www.copart.ae) and Spain ( www.autoresiduos.com). Copart links sellers to more than 750,000 members in over 140 countries worldwide through our online multi-channel platform. For more information, or to become a member, visit www.copart.com.Cautionary Note About Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the “Management's Discussion and Analysis” and the other risks identified in Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully. We do not undertake to update any forward-looking statement that may be made from time to time on our behalf.
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