Itochu completes acquisition of tyre retailer Kwik-Fit

ERJ staff report (DS)

London -- PAI Partners has announced the successful completion of Itochu Corp.'s

purchase of the Kwik Fit Group (“Kwik Fit”), as previously announced on March

1st.

Colm O'Sullivan, Partner said: “PAI is proud of what the Kwik Fit team has achieved over the

last six years and the company moves into new ownership in a much more robust position

than when PAI bought the business. PAI would like to thank all of Kwik Fit's employees and in

particular the senior management team led by Ian Fraser and Michael Healey who have been

instrumental to the progress of the business.”

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Press release from PAI Partners