Well-known Canadian tire distributor Groupe Touchette just acquired Fastco Canada, a large manufacturer and distributor of alloy and steel wheels and accessories. Fastco Canada has facilities in Vaudreuil-Dorion, Qué., and Airdrie, Alta.
The acquisition means Québec-based Groupe Touchette can expand its service offering to its customers, while Fastco Canada will be able to benefit from greater access to new markets. “Our collaboration opens new avenues for both companies and allows us to expand our product offering as part of our strategic plan,” said Nicolas Touchette, Co-owner and CEO of Groupe Touchette, in a statement.
In a news release, the tire-distribution group also said it has enjoyed steady growth for four decades, and experienced massive growth and expansion over the last 10 years. Fastco Canada, too, has been growing rapidly.
“Groupe Touchette and Fastco Canada have cultivated common values of excellence that motivate our respective employees. While remaining independent, both companies will continue to operate with common objectives to provide our customers with the best experience in the tire and wheel categories,” Touchette added.
The company said Fastco Canada’s operations in Vaudreuil-Dorion, Qué., and Airdrie, Alta., will continue as usual thanks to the details of the acquisition agreement, which allows Fastco Canada to maintain its brands and management team.
“Both businesses and their respective teams will remain independent while leveraging their strengths together,” said Groupe Touchette.
