Posted on 07/21/2023 at 13:31
As part of the acquisition, LKQ said at the time that it would take over the sale of GSF Car Parts UK, Uni−Select’s mechanical parts distributor in the UK. (photo: 123RF)
MONTREAL — Britain’s Competition Authority has raised concerns about the deal that would see LKQ acquire Quebec-based Uni-Select, and is considering a plan put forward by the two companies to allay those concerns.
The Competition and Markets Authority said its investigation found that consolidation could reduce competition in the supply of auto parts and equipment to independent garages and workshops in 145 localities, and in the supply of auto parts to local and multinational customers.
It said it would now consider a proposal by LKQ and Uni Select, which both companies said could address the regulator’s concerns, before deciding on the next step.
US company LKQ announced in February an agreement worth approximately $2.8 billion to acquire Uni−Select, from Boucherville.
As part of the acquisition, LKQ said at the time that it would take over the sale of GSF Car Parts UK, Uni−Select’s mechanical parts distributor in the UK.
LKQ, through Euro Car Parts, operates 248 stores and two distribution sites in the UK, while Uni−Select, through GSF Car Parts, operates 179 stores and two distribution sites in the country.
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