Press Release: Mergers: Commission clears acquisition of British automotive repair company Speedy (Kwik-Fit) by Itochu of Japan

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Speedy 1 Limited by Itochu Corporation. Both companies are active in automotive repair and replacement services as well as in the wholesale supply of replacement tyres to repair service providers. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.