The KWIK Fit surprise!

摘要

Yes, it has happened! Britain's Kwik-Fit, if not Europe's largest retailer of car tyres, has been sold. All along, the expectation had been that the company would be acquired by the likes of Bridgestone or even Michelin. In the end, it was Japanese trading house Itochu who stepped in and snapped up Kwik-Fit for ￡637 million from latest owner PAJ although this did include net debts of ￡457 million. Interestingly, Itochu already owns the UK wholesaler Stapletons which too has a growing retail network.