ADESA Announces Agreement to Acquire Independently Owned Salvage Auction in Pennsylvania

CARMEL, IN – ADESA, Inc., has entered into an agreement to acquire N.E. Penn Salvage Company, an independently owned salvage auction in northeast Pennsylvania. The acquisition of the N.E. Penn Salvage Company will expand the nationwide footprint of ADESA Impact, the company's total loss vehicle auction business.

"When completed, this acquisition will expand our salvage auction business into the mid-Atlantic region," said ADESA chairman, president, and CEO David Gartzke.

The auction is located at 103 Thompson Street in Pittston, Pa., just southwest of Scranton. Completion of the transaction, which is anticipated to close at the end of February, is subject to customary closing conditions.