21 Jun 2024
The voice of the independent garage sector

“We expect to divest GSF” confirms LKQ Corporation

LKQ Corporation has clarified that it will be looking to sell GSF Car Parts following its acquisition of the factor’s Canadian parent Uni-Select.

The deal will need to meet the approval of the Competition and Mergers Authority (CMA) in the UK, and LKQ Corporation will offer to sell GSF as part of its application for the CMA’ approval of the transaction and the divestment.

In the meantime, LKQ Corporation will not be involved in the day-to-day running of the GSF business with the existing management team remaining in place and the organisation ringfenced from LKQ.

Nick Zarcone, President and Chief Executive Officer of LKQ Corporation, said: “As detailed in the presentation shared on our website upon announcing the acquisition last week, we expect to divest GSF following receipt of relevant regulatory approvals. We hope this announcement helps to reassure the UK aftermarket that we remain committed to competition in the sector.”

LKQ’s acquisition of the Andrew Page business in 2017 led to it being required to sell on branches nine areas in order to conform with competition rules.