Groupe Touchette consolidates its position in the tire market

Groupe Touchette consolidates its position in the tire market

BETTING À DAY

Groupe Touchette has reached an agreement to acquire the Canadian subsidiary of Amercan Tire Distributors, a major supplier in the tire market. 

The acquisition of National Tire Distributors (NTD), a subsidiary of American Tire Distributors (ATD), will give Groupe Touchette access to the Hercules and Ironman tire brands, advanced analysis software and productivity tools from ATD.

The head office of the group will remain in Montreal, the Quebec company said in a press release on Wednesday, specifying that that of NTD will be maintained in Burlington, Ontario.

Groupe Touchette s expects the transaction, the amount of which has not been disclosed, to close in the fourth quarter of 2022, notably after approval by Canadian regulatory authorities.

“Groupe Touchette plans to offer proven solutions that improve efficiency and simplify the supply chain for the benefit of customers, consumers and manufacturers. The addition of NTD will help us achieve our goal of better serving Canadians!” said Nicolas Touchette and Frederic Bouthillier, co-owners of Groupe Touchette, in a press release.

For the President and Chief Executive Officer of ATD, Stuart Schuette, this agreement paves the way for the development of a more sustainable North American tire industry in the future.

“We are delighted to be part of Groupe Touchette and we will work together to exceed the growing needs of Canadian customers and consumers. We will do this while improving supply chain energy efficiency and reducing emissions,” said George McClean, President of NTD.

Groupe Touchette employs more than 1,000 people worldwide. Canada. For its part, NTD has about twenty distribution centers in the country.