May 12, 2014 #carparts, #midas
Midas CEO Warren Espinoza has confirmed exclusively to AutoForum that - subject to Competition Authority Approval - Midas will enter into a Distribution and Franchise Management Agreement with Behr Hella Service SA (“BHS”).
BHS owns the Silverton Radiator Franchise and the BHS Agency Network which consists of 124 Franchisees and 70 Agents respectively. The transaction includes the acquisition of current BHS inventory and the investment in the necessary people required to fulfill the distribution and franchise management functions.
In terms of the agreement, BHS will retain responsibility for product development while PIA will be responsible for warehousing, logistics, sales and customer support.
Espinoza says that Midas is proud to partner with the BHS organization and look forward to welcoming the Silverton Franchisees and BHS Agents into the Midas Family.
He said that once Competition Approval has been received, further communication will be made.
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