BOUCHERVILLE, Quebec Uni-Select has entered into an agreement with Parts Depot Inc. (PDI) to purchase certain company assets in Florida.
After the transaction has closed, Uni-Select will open new stores under its Auto-Plus trademark in those locations where leases have been assumed. Uni-Select expects to add 39 points of sale and five distribution centers, adding a substantial presence in the Florida market to its existing operations.
“This transaction is in line with our strategy of continuing to expand our footprint as we continue our growth in the U.S. market,” said Richard Roy, president and CEO of Uni-Select Inc. “The state of Florida is one of the most important automotive markets in the U.S. and Uni-Select’s entry into this market is a significant step in our development plan. This project is also a great complement to our latest acquisition of FinishMaster and its 27 locations in Florida.”
Rollie Olson, chairman and CEO of Parts Depot, added, “This development is exciting news for PDI’s customers and employees. Uni-Select will offer employment to the vast majority of our employees and will provide strong partnership to customers allowing them to compete and grow in the automotive aftermarket industry.”
This new business is expected to add sales of $87 million annually. The transaction is expected to close this month, subject to customary closing conditions.