ATD completes purchase of Regional Tire
TriCan Tire Distributors Inc., an indirect, wholly-owned subsidiary of American Tire Distributors Holdings Inc., completed its acquisition of Regional Tire Holdings Inc. on April 30, 2013.
The acquisition was completed pursuant to a Share Purchase Agreement entered into on March 22, 2013, between TriCan, American Tire Distributors Inc. (ATD), Regional Tire Holdings and its subsdiary, Regional Tire Distributors Inc. (See "ATD continues to expand in Canada.")
The acquisition closed for aggregate cash consideration of approximately $62.5 million. The purchase price was funded by borrowings under American Tire Distributors Holdings' Sixth Amended and Restated Credit Agreement, as amended.
ATD first entered Canada when it acquired the assets of Edmonton, Alberta-based TriCan Tire Distributors in November of 2012 (see "ATD gets a foot in Canada's door.")