Pick-N-Pull Auto Dismantlers, a subsidiary of Schnitzer Steel Industries, has acquired GreenLeaf Auto Recyclers, LLC, an auto dismantling and recycling business that sells reclaimed auto parts primarily to collision and mechanical repair shops. Pick-N-Pull, a leading self-service used auto parts retailer, will add GreenLeaf's 22 locations to its existing network of 30 stores, significantly increasing its presence in the Southern, Eastern and Midwestern United States. 

"Our acquisition of GreenLeaf significantly expands Pick-N-Pull's national retail footprint and represents our initial venture into the substantial full-service segment of the recycled auto parts market that services commercial customers. We believe there is excellent growth potential in both the self-service and full-service markets," stated John D. Carter, Schnitzer Steel's president and CEO.

"As we swiftly integrate these stores with our existing business, we intend to convert some to our very successful self-service model while others will remain full-service or have combined operations. Additionally, we will continue to evaluate the effectiveness and synergies of individual GreenLeaf stores and appropriately address incompatible locations. We anticipate that this acquisition may have a modestly dilutive to neutral effect on earnings in the first year and provide significant earnings growth in future years."

The newly acquired locations include Arizona, Nevada and Texas. Prior to this announcement, Pick-N-Pull had existing operations in nine states and two Canadian provinces that serve more than four million retail customers and process more than 225,000 cars per year. The combined operations of Pick-N-Pull and GreenLeaf will make Schnitzer Steel one of the largest suppliers of used OEM parts.