Belron US to Acquire Assets of Diamond Glass
COLUMBUS, OH – Belron US, a vehicle glass repair and replacement company, has reached an agreement to acquire substantially all the assets of Diamond Glass for $50 million plus the assumption of various liabilities, subject to approval by the United States Bankruptcy Court and any required regulatory approvals. Diamond filed for chapter 11 bankruptcy protection on April 1 and was put up for sale under a S363 process.
Belron US is a subsidiary of Belron SA, the world's largest vehicle glass repair and replacement company, operating in 28 countries.
The Diamond Glass acquisition is the continuation of Belron SA's strategic plan to profitably grow in the United States. Just 16 months ago, Belron acquired Safelite Group, Inc., which was the largest vehicle glass repair and replacement company in the United States at that time.