News provided by
Groupe Touchette inc.
Jul 13, 2022, 12:01 ET
MONTREAL and HUNTERSVILLE, N.C., July 13, 2022 /PRNewswire/ - Groupe Touchette Inc. ("Groupe Touchette") and American Tire Distributors ("ATD") today announced that they have entered into a definitive agreement pursuant to which Groupe Touchette will acquire ATD's Canadian subsidiary, National Tire Distributors ("NTD").
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. With NTD, Groupe Touchette's growth will also create new job opportunities across Canada. Groupe Touchette looks forward to bolstering its service offering through the integration of NTD's best-in- class workforce and rich industry knowledge.
Following the close of the transaction, Groupe Touchette will serve all major manufacturers and supply customers across Canada.
"On behalf of the entire Groupe Touchette team, we are absolutely thrilled to welcome NTD into our growing family," said Nicolas Touchette and Frédéric Bouthillier, Co-owners at Groupe Touchette. "In these challenging times, and in this ever-evolving industry, the environmental and technological realities bring a high complexity on a 360-degree perspective. 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," said Stuart Schuette, President and Chief Executive Officer 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.
Thanks to our agreement with Groupe Touchette, we are helping pave the way in developing a cleaner tire industry of the future, with technology-enabled connectivity and efficiency through our diverse line of products. We look forward to working with Groupe Touchette, as we push best practices and continue leading the pace of change in our industry."
"This is an exciting development for the NTD team, our associates, business partners, customers and, ultimately, Canadian drivers," said 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. Looking ahead, we are excited to become a part of Groupe Touchette, and we will work together to surpass the growing needs of our customers and consumers in Canada while increasing supply chain efficiency and reducing emissions."
As part of the agreement, the companies will enter into a commercial relationship under which ATD will supply the combined Canadian company with its proprietary Hercules and Ironman brand tires and make its advanced analytics software and productivity-enabling tools available to Groupe Touchette's network.
The combined expertise of Groupe Touchette and NTD, along with this commercial relationship with ATD, will create benefits for employees, manufacturers and customers, including retailers and consumers of replacement tires across Canada.
This transaction builds on Groupe Touchette's legacy as an employer-of-choice in Canada and is expected to create exciting career opportunities for Groupe Touchette employees, NTD associates and potential additional hires.
The combined business will continue to be headquartered in Montreal and will maintain a national support center in Burlington, Ontario, as well as regional offices across Canada.
Timing and Approvals
The transaction is expected to close in the fourth quarter of 2022, subject to the satisfaction of customary closing conditions including Canadian regulatory clearance.
Advisors
Jefferies Group is serving as financial advisor to Groupe Touchette and Dentons and Prévost Fortin D'Aoust are serving as its legal counsel.
Moelis & Company LLC is serving as financial advisor to ATD and Davies Ward Phillips & Vineberg LLP and Troutman Pepper Hamilton Sanders LLP are serving as its legal counsel.
About Groupe Touchette Inc.
Groupe Touchette Inc., one of the largest Canadian-owned tire distributors, was founded more than 40 years ago by André Touchette. Groupe Touchette is recognized for its expertise and superior level of service to manufacturers, car dealers and independent customers. Led by Nicolas Touchette and Frédéric Bouthillier, the company headquartered in Montréal specializes in value-added tire distribution services. Groupe Touchette has more than 1,000 employees and is present across Canada with more than two dozen distribution centres. Through its TireLink and DT Tire Banners, Groupe Touchette is servicing car manufacturers, car dealerships and independent tire retailers. The company also serves Canadian consumers under the retail banners Tireland/Ici Pneu, Tire Partners/Pneu Solutions, Pneus Chartrand Mécanique, Pneus Express Mécanique and Touchette Motorsport.
https://www.grtouchette.com/
About American Tire Distributors
American Tire Distributors is one of the largest independent suppliers of tires to the replacement tire market. It operates more than 130 distribution centers, including 26 distribution centers in Canada, serving approximately 80,000 customers across the U.S. and Canada. The company offers an unsurpassed breadth and depth of inventory, frequent delivery and value-added services to tire and automotive service customers. American Tire Distributors employs approximately 5,000 associates across its distribution center network, including approximately 600 associates in Canada. In 2021, the company was recognized as one of Forbes' 2021 America's Best Mid-Sized Employers and received a Gold Stevie® Award in the Transportation Company of the Year category of the American Business Awards®, in addition to a Bronze Stevie® Award for Most Innovative Company of the Year.
Source
Groupe Touchette
David Giguère
Vice President, Marketing & Merchandising
Media Contact
Groupe Touchette Inc.
Patrice Lavoie
Vice President, Public Relations, Hill+Knowlton Strategies
[email protected]
514.567.7496
American Tire Distributors
Jessica Kessel
Vice President, Corporate Brand Affairs & Communications
[email protected]
704.516.1162
Aaron Palash / Jack Kelleher / Haley Salas
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
Claude Breton
Longview Communications & Public Affairs
514.220.1482
SOURCE Groupe Touchette inc.
HUNTERSVILLE, N.C.— American Tire Distributors Inc. (ATD) has reached an agreement to sell its Canadian subsidiary, National Tire Distributors (NTD), to Canadian wholesaler Groupe Touchette Inc.
Terms of the deal — the most significant acquisition in the 40-year history of Montreal-based Groupe Touchette — were not disclosed. The transaction includes 26 NTD distribution centers across Canada, giving Groupe Touchette access to 52 D/Cs, in just about every province.
The deal is expected to close in the fourth quarter of 2022, subject to customary closing conditions, including Canadian regulatory clearance.
Once the transaction is complete, Groupe Touchette said it will serve all major manufacturers and supply customers across Canada.
ATD President and CEO Stuart Schuette called the sale "an important step forward for NTD, ATD and the industry as a whole."
Once the deal closes, ATD essentially will no longer service the Canadian market.
Schuette lauded NTD, its customers and its 600 associates.
"Thanks to our agreement with Groupe Touchette, we are helping pave the way in developing a cleaner tire industry of the future, with technology-enabled connectivity and efficiency through our diverse line of products," Schuette said.
"We look forward to working with Groupe Touchette, as we push best practices and continue leading the pace of change in our industry.
"
As part of the agreement, ATD will supply Groupe Touchette with its proprietary Hercules and Ironman brand of tires while making its analytics software and productivity-enabling tools available to Groupe Touchette's network. Both have been a key focus for ATD over the last several years.
U.S. impact
So what does this transaction mean for ATD's U.S. customers?
"The transaction provides ATD with resources, focus and flexibility to build on our momentum to deliver connected automotive solutions for the industry," an ATD spokesperson said. "With increased focus on our transformation and operations, we are driving our strategy forward, rolling out new tools and capabilities and growing our business by providing better services to our customers today than ever before."
In addition, ATD said the transaction helps to reduce emissions by increasing supply chain efficiency.
"With our commercial agreement with NTD and Groupe Touchette, we're excited to not only support the new combined company, but to help pave the way in developing a cleaner tire industry of the future, with technology-enabled connectivity and efficiency through our diverse line of products," the spokesperson said.
Groupe Touchette said the acquisition will enhance its ability to serve its customers and business partners with improved service, increased capacity and more choices to Canadian consumers. It also said the acquisition would create new job opportunities across Canada.
Nicolas Touchette and Frédéric Bouthillier, co-owners at Groupe Touchette, said they are "thrilled" to welcome NTD under the Groupe Touchette umbrella.
"In these challenging times, and in this ever-evolving industry, the environmental and technological realities bring a high complexity on a 360-degree perspective," the pair said in a statement. "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."
George McClean, president of NTD, said the transaction will benefit NTD, its "associates, business partners, customers and, ultimately, Canadian drivers.
"
"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," McClean said. "Looking ahead, we are excited to become a part of Groupe Touchette, and we will work together to surpass the growing needs of our customers and consumers in Canada while increasing supply chain efficiency and reducing emissions."
Group Touchette, founded more than 40 years ago, said the combined business will continue to be headquartered in Montreal and will maintain a national support center in Burlington, Ontario, as well as regional offices across Canada.
According to the companies, Jefferies Group is serving as financial advisor to Groupe Touchette and Dentons and Prévost Fortin D'Aoust are serving as its legal counsel. Moelis & Company L.L.C. is a financial advisor to ATD, and Davies Ward Phillips & Vineberg L.L.P. and Troutman Pepper Hamilton Sanders L.L.P. are serving as its legal counsel.
Groupe Touchette has more than 1,000 employees and operates more than 24 distribution centers. Through its TireLink and DT Tire Banners, Groupe Touchette is servicing car manufacturers, car dealerships and independent tire retailers.
The company also serves Canadian consumers under the retail banners Tireland/Ici Pneu, Tire Partners/Pneu Solutions, Pneus Chartrand Mécanique, Pneus Express Mécanique and Touchette Motorsport.
Groupe Touchette recently closed a deal to buy fellow Quebec tire dealer Pneus Chartrand Distribution Inc., which operates both wholesale and retail businesses throughout the province.
That acquisition included two wholesale distribution centers, seven retail tire and auto service locations under the Pneus Chartrand Mécanique Inc. identity and a real estate company, Groupe Immobilier Chartrand, Groupe Touchette said.
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