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Bridgestone targets Kwik-Fit

Bridgestone, the tyre manufacturer, has announced its interest in acquiring Kwik-Fit, the car repair chain.

The sale of the firm by its current majority owner, CVC Capital Partners, is expected to raise between £800m and £1bn.

A spokesman for Bridgestone, which is aiming to expand its market share in Europe, confirmed today that the company was eyeing up Kwik-Fit, adding: "We are , of course , interested, but can't comment on this case for now."

Bridgestone has teamed up with Mitsubishi Corporation to bid for the West Lothian-based Kwik-Fit. It has already seen off early interest from French rival Michelin, according to the Financial Times.

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