Tire distributor Groupe Touchette announced it has acquired Fastco Canada, which designs, manufactures and distributes alloy wheels.
In an announcement, Groupe Touchette said the deal will allow it to expand its customer service offering and give Fastco greater access to new markets.
The acquisition, the company said, is in line with its growth plan and it has joined forces with an innovative company at the forefront of technology and driven by values of excellence. The two companies will remain independent.
“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 chief executive officer of Groupe Touchette. “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.”
Fastco’s Vaudreuil-Dorion, Quebec, and Airdrie, Alberta, locations will continue as usual. The agreement allows Fastco to maintain its brands and management team.