Uni-Sélect Inc.

Uni-Sélect Inc.

August 17, 2009 16:26 ET

Uni-Select Inc. Completes the Transactions for the Sale of the Assets of Its Heavy Duty Group

BOUCHERVILLE, QUEBEC--(Marketwire - Aug. 17, 2009) - Uni-Select Inc. (TSX:UNS) announces that it has completed both transactions for the sale of the assets of its Heavy Duty Group respectively to UAP Inc. and Entreprise Robert Thibert Inc.

These transactions were initially announced on July 16, 2009 and are expected to generate $22 Million in net cash during the third quarter and result in a non-recurring net loss of approximately $5.0 Million. The proceeds of the sale will reduce debt and the overall interest expense will decrease accordingly.

"Uni-Select intends to continue to grow through both organic development and acquisitions of core activities related to the distribution of automotive replacement parts and accessories in both Canada and the United States" said Richard G. Roy, President & Chief Executive Officer of Uni-Select.

Unless otherwise indicated, all amounts specified in this release are in Canadian dollars.

Uni-Select is a Canadian leader in the distribution of automotive replacement parts, equipment, tools and accessories and, through Uni-Select USA, Inc., the Company also provides services to customers in the United States where it is the 7th largest distributor. The Uni-Select NetworkTM includes over 2,500 independent jobbers and services 3,500 points of sale in North America. Uni-Select is headquartered in Montreal. Uni-Select shares (UNS) are traded on the TMX.

Certain statements made in this press release contain forward-looking statements which, by their very nature, include risks and uncertainties, such that actual results could differ from those indicated in those forward-looking statements. For additional information with respect to the risks and uncertainties, refer to the Annual Report filed by Uni-Select with the Canadian securities commissions. Unless required to do so pursuant to applicable securities legislation, Uni-Select assumes no obligation as to the updating or revision of the forward-looking statements as a result of new information, future events or other changes.

Contact Information

  • Uni-Select Inc.
    Mr. Richard G. Roy
    President and Chief Executive Officer
    Uni-Select Inc.
    Mr. Denis Mathieu
    Vice President and Chief Financial Officer