Groupe Touchette will serve all major manufacturers and supply customers across Canada.
Groupe Touchette Inc. and American Tire Distributors (ATD) have entered into a definitive agreement under which Groupe Touchette will acquire ATD’s Canadian subsidiary, National Tire Distributors (NTD).
Groupe Touchette management says the acquisition of NTD will significantly contribute its 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 also will create new job opportunities across Canada. Following the close of the transaction, Groupe Touchette will serve all major manufacturers and supply customers across Canada.
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.
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.
The transaction is expected to close in the fourth quarter of 2022, subject to the satisfaction of customary closing conditions including Canadian regulatory clearance.
Jefferies Group is serving as financial adviser to Groupe Touchette and Dentons and Prévost Fortin D’Aoust are serving as its legal counsel. Moelis & Company LLC is serving as financial adviser to ATD and Davies Ward Phillips & Vineberg LLP and Troutman Pepper Hamilton Sanders LLP are serving as its legal counsel.
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