Groupe Touchette Inc. and American Tire Distributors Inc. (ATD) have entered into an agreement that will see Groupe Touchette acquire ATD's Canadian subsidiary, National Tire Distributors (NTD.)
The deal is expected to close during the fourth quarter of 2022.
As part of the agreement, ATD will supply Groupe Touchette and NTD with its Hercules and Ironman brands and will "make its advanced analytics software and productivity-enhancing tools available to Groupe Touchette's network."
"The acquisition of NTD will significantly contribute to Groupe Touchette's ability to serve its customers and business partners, bringing enhanced service, increased offering capacity and more choice to Canadian consumers," the companies said in a press release.
"With NTD, Groupe Touchette's growth will also create new job opportunities across Canada."
"On behalf of the entire Groupe Touchette team, we are absolutely thrilled to welcome NTD into our growing family," say Nicolas Touchette and Frédéric Bouthillier, co-owners at Groupe Touchette.
"Groupe Touchette's plan is to offer powerful solutions that drive efficiencies and streamline the supply chain for the benefit of customers, consumers and manufacturers. NTD's addition will help us reach our goal to best serve Canadians."
"Today's announcement is another important step forward for NTD, ATD and our industry as a whole," says Stuart Schuette, president and CEO of ATD. "We are very proud of the Canadian business we have built in NTD and are pleased to have reached an agreement with Groupe Touchette that secures a tremendous future for it and the incredible associates, customers and partners who support it."
"This is an exciting development for the NTD team, our associates, business partners, customers and, ultimately, Canadian drivers," says George McClean, president of NTD. "We are grateful to have been a part of ATD and for their vision, innovation and operational support that have positioned us for continued growth and success."
The combined Groupe Touchette/NTD business will be headquartered in Montreal, Quebec, with a main support center in Burlington, Ontario, plus regional offices throughout Canada.
