Uni-Select, Acklands-Grainger form joint venture
BOUCHERVILLE, Que. (Oct. 3, 2001) — Uni-Select Inc. and Acklands-Grainger have agreed to combine Uni-Select’s Western Division and Acklands-Grainger’s automotive aftermarket division, which operates as Bumper to Bumper, and operate the joint venture as a separate company.
In a news release, the companies said they will each have a 50% stake in the new business, which will be managed by Uni-Select. Annual revenues for the new company are expected to be $120 million.
The transaction is subject to regulatory approval and customary closing conditions, the companies said.
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