Groupe Touchette Inc., one of Canada’s largest tire distributors, has acquired Fastco Canada, which specializes in alloy wheel design, manufacturing and distribution. The company said the acquisition allows Groupe Touchette to expand its service offering to its customers and provides Fastco Canada with greater access to new markets. The transaction also promotes synergies in product offering for the benefit of both companies’ customer base.
“We are very pleased and proud to welcome Fastco Canada, a company that is registering rapid growth and with which we share great ambitions,” said Nicolas Touchette, co-owner and chief executive officer, Groupe Touchette Inc. “Our collaboration opens new avenues for both companies and allows us to expand our product offering as part of our strategic plan. 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.”
The company said Fastco benefits from steady growth built on long-standing partnerships with large Canadian retailers, vehicle manufacturers and tire manufacturers. A rigorous product development process has been the hallmark of the Chaplin family (owners of Fastco) from design, engineering to the manufacturing of quality products for the automotive enthusiast, the company said.
“This announcement opens new opportunities and further expands our position as Canada’s leader in the design, production and distribution of alloy and steel wheels,” said Glenn Chaplin, president, Fastco Canada. “It will also increase the strength of our brands and open new opportunities for us in the future. I’m proud to see my sons Bob and Lee as well as the current leadership remaining at the heart of Fastco Canada and carrying on the Chaplin family culture.”
Fastco Canada’s operations in Vaudreuil-Dorion, Quebec, and Airdrie, Alberta, will continue as usual. The agreement allows Fastco Canada to maintain its brands and management team. Additionally, both businesses and their respective teams will remain independent while leveraging each other’s strengths, Group Touchette said.
