BOUCHERVILLE, QC, Sept. 30, 2019 /CNW Telbec/ - Uni-Select Inc. (TSX:UNS.TO - News) ("Uni-Select" or "Corporation") today announced it has completed the sale of the ProColor banner program to Fix Auto.
"Since Uni-Select launched the ProColor banner in Québec in 2001, the network grew from 28 to 172 collision repair shops. I wish to extend our gratitude to the ProColor team members who worked with us during the past 18 years and contributed to establish ProColor's clear leadership position in the Québec market. Fix Auto has a strong global network and a solid reputation in the auto repair industry, especially in the Canadian market, and we are excited that ProColor will continue to grow under their umbrella," said Brent Windom, President and Chief Executive Officer of Uni-Select.
ProColor will complement Fix Auto's operations in Québec and the Uni-Select network is committed to continuing to support ProColor and furthering the expanded growth throughout Canada through a long-term supply partnership agreement.
Uni-Select has also entered into a transition agreement with the acquirer to ensure an orderly and smooth transition for team members, customers and suppliers.
Uni-Select is a leader in the distribution of automotive refinish and industrial paint and related products in North America, as well as a leader in the automotive aftermarket parts business in Canada and in the UK. Uni-Select is headquartered in Boucherville, Québec, Canada, and its shares are traded on the Toronto Stock Exchange (TSX) under the symbol UNS.
In Canada, Uni-Select supports over 16,000 automotive repair and collision repair shops through a growing national network of more than 1,100 independent customers and over 70 company-owned stores, many of which operate under the Uni-Select BUMPER TO BUMPER®, AUTO PARTS PLUS® AND FINISHMASTER® store banner programs. It also supports over 3,900 shops through its automotive repair/installer shop banners, as well as through its automotive refinish banners.
In the United States, Uni-Select, through its wholly-owned subsidiary FinishMaster, Inc., operates a national network of over 190 automotive refinish company-owned stores under the FINISHMASTER banner which services a network of over 30,000 customers annually, of which it is the primary supplier to over 6,800 collision repair centre customers.
In the UK and Ireland, Uni-Select, through its Parts Alliance group of subsidiaries, is a leading distributor of automotive parts supporting over 23,000 customer accounts with a network of over 180 company-owned stores.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements made in this press release are forward-looking statements. Forward-looking statements are typically identified by the word's assumption, goal, guidance, objective, outlook, project, strategy, target and other similar expressions or future or conditional verbs such as aim, anticipate, believe, could, expect, intend, may, plan, seek, should, strive and will. All such forward-looking statements are made pursuant to the "safe harbour" provisions of applicable Canadian securities laws.
Forward-looking statements are, by their very nature, subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which may cause expressed expectations to be significantly different from those listed or implied within this press release and our business outlook, objectives, plans and strategic priorities may not be achieved. As a result, we cannot guarantee that any forward-looking statement will materialize, and we caution you against relying on any of these forward-looking statements. 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. Forward-looking statements are presented in this press release for the purpose of assisting investors and others in understanding certain key elements of our expected 2019 financial results, as well as our objectives, strategic priorities and business outlook for 2019, and in obtaining a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.
SOURCE Uni-Select Inc.
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