Mike’s auto-parts chain is in discussions with Marshalls Automotive Parts, according to a person familiar with the matter.
The purchase of the auto parts company, which is based in Kansas City, Missouri, is expected to close this year, the person said.
It was not immediately clear why the deal was not announced sooner.
Mike’s was founded in 2006 by Mark D. Myers and has more than 60 stores in the U.S. and Canada.
It has been owned by Myers since 2014, when he bought the company.
Mike’s is also owned by two other companies, Denny’s Auto Centers and Mike’s Automotive Services.
Mike Myers in 2015.
| AP filePhotoMike’s has been trying to expand in the automotive industry, focusing on the luxury brands Bentley, Lamborghini, and Rolls-Royce.
It is the only U.K.-based auto-part chain that also sells cars and trucks.
In recent years, the chain has also become increasingly interested in the luxury segment, as it continues to compete with companies such as Mercedes-Benz and Volvo.
But Mike’s has struggled to stay competitive in the premium auto- parts market.
The company has lost market share in some markets.
Mike Myers told Reuters in 2015 that the company’s growth had slowed, but that it is now growing at a “steady clip.”
Mike’s is looking to expand further in the industry, according of its most recent financial report, which showed a profit of $5.9 million in the fourth quarter of 2017.
The profit was down from $6.2 million in 2016.