Inchcape, a retailer of premium automotive products and services, completed the acquisition of Derco, an independent automotive distributor in Latin America, for £1.3bn ($1.6bn). "The combination with Derco is a transformative and unique opportunity to accelerate our global distribution business. We believe it will deliver substantial shareholder value and is another great example of our Accelerate strategy in action. Derco will dramatically increase our scale in the fast growth Americas region, bolstering our presence in several existing markets, and will secure Bolivia as a new Inchcape distribution market. Derco also brings a fantastic set of highly complementary OEM relationships, including deepening our decades-long relationship," Duncan Tait, Inchcape CEO.