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Letter to the Editor
Tuesday February 13
Uni-Select Pursues its Acquisition Program in the USA
BOUCHERVILLE, QUEBEC -- Uni-Select, Inc. and The Parts Plus Group, Inc. of Bogota, New Jersey have announced the conclusion of a definitive asset purchase agreement leading to the acquisition by Uni-Select of Part Plus Group's distribution centre in Memphis, Tennessee. This warehouse operation supplies a network of close to 100 Parts Plus wholesalers located mainly in Tennessee and Mississippi.
A Uni-Select USA subsidiary also operates a distribution centre in Memphis. The transaction will bring significant synergies to Uni-Select USA distribution facilities, broaden the inventory coverage, and strengthen its network of independent wholesalers. Uni-Select also acquires the expertise and know-how to run the Parts Plus banner; Uni-Select USA had recently joined the Parts Plus Association whose banner will become an important element to Uni-Select's development strategy in the US.
This acquisition is Uni-Select's fourth in the United States since 1998 and it confirms its commitment to develop a strong and profitable automotive parts distribution network in the US market. In 2000, Uni-Select USA generated sales of about US$90 Million.
The transaction is set to close February 26, 2001 and is expected to add annual sales of about US$12 Million to Uni-Select USA.
Uni-Select is a distributor of replacement parts for automobile and heavy-duty vehicles. The combined operations of the company in Canada and in the United States generated sales of close to CAN$580 Million in 2000. Uni-Select shares (UNS) are traded on the Toronto Stock Exchange.
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