Groupe Touchette, the most important Canadian-owned tire distributor, struck a deal to accumulate American Tire Distributors’ belongings within the nation, a transfer that will roughly double its annual gross sales.
Montreal-based Groupe Touchette will serve “all major manufacturers and supply customers across Canada” after the deal, the corporate stated in an announcement Wednesday. The agency’s income will rise from $800 million to between $1.4 billion and $1.7 billion, in keeping with an individual accustomed to the matter.
The two non-public firms, which didn’t launch any monetary particulars in regards to the transaction, will enter right into a contract beneath which American Tire will provide Groupe Touchette with its proprietary Hercules and Ironman model tires. The transaction is predicted to shut within the fourth quarter, topic to regulatory approval.
Groupe Touchette elevated its place in Canada with two necessary acquisitions lately, Pneus Chartrand Distribution Inc. in 2021 and Atlas Tire Wholesale Inc. in 2018. It now employs greater than 1,000 staff in additional than two dozen distribution facilities. Huntersville, North Carolina-based American Tire Distributors operates 26 distribution facilities and has about 600 workers in Canada.
Through its TireHyperlink and DT Tire Banners, Groupe Touchette serves auto producers, dealerships and unbiased tire retailers. The firm additionally serves Canadian customers beneath the retail banners Tireland/Ici Pneu, Tire Partners/Pneu Solutions, Pneus Chartrand Mécanique, Pneus Express Mécanique and Touchette Motorsport.
Source: canada.autonews.com
