Groupe Touchette Inc., the titan of tire distribution in Canada, has announced its acquisition of Fastco Canada, the nation's leading name in alloy wheel design, manufacturing, and distribution.
This merger promises not only to expand the horizons for both companies but also to redefine the standards of the tire and wheel industry in Canada.
The acquisition is a strategic move that allows Groupe Touchette to broaden its service offerings, while Fastco Canada gains a wider reach into new markets. Both companies are set to benefit from the synergies in their product offerings, ensuring their customers receive unparalleled service and product quality.
Groupe Touchette, with its four-decade legacy, has been on a trajectory of exponential growth, especially in the last ten years. By acquiring Fastco Canada, they align with their growth plan, partnering with a company known for its innovation, technological advancements, and a shared commitment to excellence.
Nicolas Touchette, the co-owner and CEO of Groupe Touchette Inc., expressed his enthusiasm, stating, "Our collaboration with Fastco Canada, a rapidly growing company, opens new avenues for both entities. We're excited to expand our product range as part of our strategic vision. Both companies have always prioritized excellence, and this merger only strengthens that commitment."
Fastco Canada's unparalleled industry knowledge makes it a valuable asset in this merger. Their consistent growth is a testament to their long-standing partnerships with major Canadian retailers, vehicle manufacturers, and tire producers. The company's rigorous product development process, spearheaded by the Chaplin family, ensures the delivery of top-tier products for automotive enthusiasts.
Frédéric Bouthillier, Groupe Touchette Inc.'s co-owner and COO, emphasized the strategic advantage of the merger, noting Fastco Canada's pioneering efforts in sectors like electric vehicles (EVs) and their unique resources like FastFinderTM.
Glenn Chaplin, President of Fastco Canada, shared his optimism, "This merger amplifies our position as Canada's leader in alloy and steel wheel design, production, and distribution. It fortifies our brand and paves the way for future opportunities."
While the merger is significant, both companies will retain their independence, with Fastco Canada continuing its operations in Vaudreuil-Dorion, QC, and Airdrie, AB. The agreement ensures that Fastco Canada's brand identity and management team remain intact, allowing both companies to leverage their combined strengths.
Several esteemed advisors played pivotal roles in this transaction, including Prévost Fortin D'Aoust LLP, Ernst and Young, KPMG, Fasken Martineau DuMoulin LLP for Groupe Touchette, and Tony Fratianni, Sam Spatari CPA, Kevin Perkins, Michael Pesner, and Glen Brown for Fastco.
Groupe Touchette Inc., founded in 1979, stands as the largest Canadian-owned tire distributor, renowned for its expertise and service. Fastco Canada, on the other hand, has its roots in Glenn Chaplin's passion for auto racing, evolving from a basement business in 1970 to Canada's largest alloy and steel wheel manufacturer and distributor.
