Uni-Select to Sell US Parts Distribution Activities for $340 Million
Feb. 10, 2015—Uni-Select Inc. announced on Monday that it has entered into an agreement for the sale of substantially all of the assets of Uni-Select USA Inc. and Beck/Arnley Worldparts Inc. to an affiliate of Icahn Enterprises L.P. at a purchase price of approximately $340 million.
The transaction results from preliminary discussions which led to the agreement for the sale of 39 distribution centers and satellite locations, 240 corporate stores and a total of 2,960 teammates. FinishMaster, Uni-Select’s automotive paint distribution activities, as well as its Canadian automotive parts and paint distribution business unit, are not subject to the transaction.
The transaction is expected to close during the first half of 2015 and is subject to customary closing conditions, including obtaining regulatory approvals.