Fleet News

Apples now fully owned by Kwik-Fit

APPLES Limited, a specialist in car servicing and mechanical repairs for both the retail and fleet motorist, is now 100% owned by Kwik-Fit. The tyre specialist has also bought a 50% share of Kwik-Fit Northern Ireland. Apples operates 70 Car Clinics in England and in the last full financial year generated sales of £22 million.

Kwik-Fit made an initial 25% investment in the firm in December 1994 but has bought the remaining share capital for £7.5 million which will be met from the fast-fit firm's resources. The company has also acquired 50% of Kwik-Fit Northern Ireland, which operates 12 centres, from Hampden Group for £1 million including repayment of loans due to Hampden. Kwik-Fit Group, Europe's largest independent specialist in the car parts repair and replacement market, will now trade from 1,033 automotive fitting centres, 154 mobile tyre fitting vehicles, 92 mobile servicing vehicles and 29 Centuri Trade Distribution centres.

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