Icahn Enterprises L.P. today announced that it has completed its previously announced acquisition of substantially all of the assets of Uni-Select USA, Inc. and Beck/Arnley Worldparts, Inc., comprising the U.S. automotive parts distribution business of Uni-Select Inc. (TSX:UNS). The transaction includes 38 distribution centers and satellite locations, 240 corporate-owned jobber stores and over 3,500 employees.
Carl C. Icahn, Chairman of Icahn Enterprises, commented, “We are extremely pleased to add the U.S. segment of Uni-Select to the Icahn Enterprises family of companies. This acquisition exemplifies our strategy of finding undervalued companies with great growth potential. We believe that with our abundant resources and knowledge of the industry we will be able to grow this business and take advantage of consolidation opportunities, thereby benefiting customers, manufacturing partners and employees, as well as our shareholders.”
The auto parts distribution business acquired from Uni-Select will be operated independently from Federal-Mogul Holdings Corporation, our subsidiary and a leading global supplier of automotive products and services. All transactions between the two companies will be conducted on an arms-length basis and approved by the independent directors of each company. As previously announced, in connection with the closing of this transaction, Carl C. Icahn has resigned from the board of directors of Federal-Mogul and Daniel A. Ninivaggi, the Co-Chief Executive Officer of Federal-Mogul, has resigned from the board of directors of Icahn Enterprises. – Nasdaq