HUNTERSVILLE, N.C., Sept. 7, 2022 /PRNewswire/ — American Tire Distributors (“ATD”) right now introduced the completion of the sale of its Canadian subsidiary, Nationwide Tire Distributors (“NTD”), to Groupe Touchette Inc. (“Groupe Touchette”).
With the sale of NTD now full, ATD is shifting ahead as a extra centered group that’s higher positioned to serve its clients throughout the U.S. and put money into the improved innovation that’s driving its transformation efforts. As well as, with the transaction full, ATD will advance its aim of lowering emissions by rising provide chain effectivity and offering technology-enabled connectivity and effectivity by way of its various line of merchandise.
ATD will proceed supporting NTD and Groupe Touchette by way of its new industrial relationship, beneath which ATD will provide the mixed firm with its proprietary Hercules and Ironman model tires and make its superior analytics software program and productivity-enabling instruments obtainable to Groupe Touchette’s community.
“With the completion of this transaction, we now have extra assets, focus and adaptability to construct on our momentum and speed up our transformation,” stated Stuart Schuette, President and Chief Govt Officer of ATD. “We’re driving our technique ahead, rolling out new instruments and capabilities and delivering much more related automotive options for the shoppers and producers we serve. Throughout ATD, we’re excited to proceed main the tempo of change in our business by offering much more related and higher services than ever earlier than.”
Mr. Schuette continued, “We sit up for persevering with to assist NTD and Groupe Touchette as their mixed enterprise grows in Canada. By our collaboration, we’ll assist pave the way in which in creating a cleaner tire business of the long run. We want the NTD group the very best as they formally embark on their subsequent part as a part of Groupe Touchette. I additionally wish to acknowledge the onerous work and dedication of ATD’s associates, who will proceed to drive our success as we transfer ahead.”
Moelis & Firm LLC served as monetary advisor to ATD and Davies Ward Phillips & Vineberg LLP and Troutman Pepper Hamilton Sanders LLP served as its authorized counsel.
About American Tire Distributors
American Tire Distributors is among the largest unbiased suppliers of tires to the alternative tire market. It operates greater than 115 distribution facilities serving roughly 80,000 clients throughout the U.S. The corporate affords an unsurpassed breadth and depth of stock, frequent supply and value-added providers to tire and automotive service clients. American Tire Distributors employs roughly 4,500 associates throughout its distribution heart community. In 2022, the corporate was acknowledged as considered one of Forbes’ 2022 America’s Finest Midsize Employers and a Most Cherished Office by Newsweek.
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SOURCE American Tire Distributors