ATD Completes Sale of National Tire Distributors to Groupe Touchette Inc.
American Tire Distributors (“ATD”) today announced the completion of the sale of its Canadian subsidiary, National Tire Distributors (“NTD”), to Groupe Touchette Inc. (“Groupe Touchette”).
With the sale of NTD now complete, ATD is moving forward as a more focused organization that is better positioned to serve its customers across the U.S. and invest in the enhanced innovation that is driving its transformation efforts. In addition, with the transaction complete, ATD will advance its goal of reducing emissions by increasing supply chain efficiency and providing technology-enabled connectivity and efficiency through its diverse line of products.
ATD will continue supporting NTD and Groupe Touchette through its new commercial relationship, under which ATD will supply the combined 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.
“With the completion of this transaction, we now have more resources, focus and flexibility to build on our momentum and accelerate our transformation,” said Stuart Schuette, President and Chief Executive Officer of ATD. “We are driving our strategy forward, rolling out new tools and capabilities and delivering even more connected automotive solutions for the customers and manufacturers we serve. Across ATD, we are excited to continue leading the pace of change in our industry by providing even more connected and better products and services than ever before.”
Mr. Schuette continued, “We look forward to continuing to support NTD and Groupe Touchette as their combined business grows in Canada. Through our collaboration, we will help pave the way in developing a cleaner tire industry of the future. We wish the NTD team the best as they officially embark on their next phase as part of Groupe Touchette. I also want to recognize the hard work and dedication of ATD’s associates, who will continue to drive our success as we move forward.”
Moelis & Company LLC served as financial advisor to ATD and Davies Ward Phillips & Vineberg LLP and Troutman Pepper Hamilton Sanders LLP served as its legal counsel.
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 115 distribution centers serving approximately 80,000 customers across the U.S.. 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 4,500 associates across its distribution center network. In 2022, the company was recognized as one of Forbes' 2022 America's Best Midsize Employers and a Most Loved Workplace by Newsweek.
