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BOUCHERVILLE, QUEBEC--(Marketwired - Feb 9, 2016) - Uni-Select Inc. (TSX:UNS), a leading distributor of automotive products in Canada and parent company of FinishMaster, Inc., a leading distributor of paint and related products in the United States, announced today that it has completed the acquisition, through one of its Canadian subsidiaries, of all the shares of Pièces d'autos M.A.G. Inc. ("M.A.G.") and entered into an agreement to purchase, through one of its Canadian subsidiaries, substantially all of the assets of Jean Talon Auto Parts (1993) Ltd. ("Jean Talon Auto") and Centre de Pièces Gagnon ("Pièces Gagnon"). The consummation of the Jean Talon Auto and Pièces Gagnon acquisition is subject to customary closing conditions and expected to close within 60 days.
These acquisitions will expand Uni-Select's reach in Québec, as the Corporation continues to develop a strong corporate store network across Canada.
M.A.G., formerly a member of a competing automotive parts distributor, has been a well-reputed wholesaler of automotive parts since 2007. Its team has served the market for over 8 years from 1 location in Sherbrooke, Québec. The 11 parts experts who contributed to building its reputation and position in the market, now join the Uni-Select family.
Jean Talon Auto, a long-term customer of Uni-Select, has been a well-reputed wholesaler of automotive parts, operating from 6 locations in Montréal, Québec. Its dedicated team of professionals has served the market throughout the Greater Montréal Area for over 30 years. Upon closing of the transaction, the 56 professionals who contributed to building its position in the market will join the Uni-Select team.
Pièces Gagnon, a customer of Uni-Select, is a wholesaler of automotive parts, specialized in heavy duty and industrial parts. In business for decades from 1 location in Montréal, Québec, its team of 16 professionals will also join the Uni-Select family upon conclusion of the transaction.
"We are proud to add M.A.G. to the Uni-Select family in the Sherbrooke area and to have these long-time Uni-Select customers, Jean Talon Auto and Pièces Gagnon, continue to serve the Greater Montréal Area", stated Gary O'Connor, President and Chief Operating Officer, Automotive Canada.
"We are very pleased to add these terrific businesses and teams to our network of corporate stores in the important urban Montreal and Sherbrooke markets", added Henry Buckley, President and Chief Executive Officer of Uni-Select.
Uni-Select is a leader in the distribution of automotive refinish and industrial paint and related products across North America, as well as in the automotive aftermarket parts business in Canada. Its over 2,700 team members, spread across a network of 13 distribution centres and over 220 corporate stores, are dedicated to supplying its customers the right products, at the right place, and when they need them. Uni-Select also offers advanced solutions and first-rate service to enable its customers' success. In the United States, FinishMaster, Inc., a subsidiary of Uni-Select operates a network of automotive refinish corporate stores from coast to coast under the FinishMaster banner and supports more than 6,000 collision repair centre customers. Uni-Select's Canadian automotive aftermarket parts and automotive refinish business supports a growing national network of more than 1,150 independent customers and corporate stores, several of which operate under Uni-Select store banner programs including Auto Parts Plus®, Auto-Plus® and Bumper to Bumper®. In Canada, Uni-Select supports over 3,900 shops and stores through its automotive repair/installer shop banners and programs including Auto Select®, Uni-Pro®, and SAX (SelectAutoXpert), as well as through its automotive refinish banner, Carrossier ProColor®. Uni-Select is headquartered in Boucherville, Québec, Canada, and its shares are traded on the Toronto Stock Exchange (TSX) under the symbol UNS.
The information provided in this press release may include some forward-looking information, which could include certain risks and uncertainties which may cause the final results to be significantly different from those listed or implied within this news release. Such risks and uncertainties may include, for example, the impact of the transactions on the business of Uni-Select and certain strategic benefits expected to result from the transactions. For additional information with respect to risks and uncertainties, refer to the Annual Report filed by Uni-Select with the Canadian securities commissions. The forward-looking information contained herein is made as of the date of this press release, and Uni- Select does not undertake to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws.
Chief Legal Officer and Corporate Secretary