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BOUCHERVILLE, QUEBEC--(Marketwired - Mar 1, 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 substantially all of the assets of Jean Talon Auto Parts (1993) Ltd. ("Jean Talon Auto") and Centre de Pièces Gagnon ("Pièces Gagnon"). This transaction was initially announced on February 9, 2016 but the closing of which was subject to certain customary closing conditions that have been satisfied on this date.
"We are very excited about this opportunity to continue our growth strategy, further strengthen our corporate store network and also accelerate our growth in the Greater Montreal Area," stated Gary O'Connor, President and Chief Operating Officer, Automotive Canada.
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 235 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 transaction on the business of Uni-Select and certain strategic benefits expected to result from the transaction. 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 Financial Officer