Distribution Stox Adds 4 Warehouses in Acquisition
Distribution Stox will add $100 million worth of wholesale sales, plus four warehouses, with the acquisition of the wholesale distribution division of Service de Pneus Lavoie Outaouais Inc.
The deal with Pneus Lavoie is expected to close in early 2022. It does not include the company's retail business or its retreading operations.
The Pneus Lavoie wholesale business operates in Ontario as well as the Outaouais region of Québec.
Normand Lavoie, the owner of Pneus Lavoie, was a past chair of the board of Unimax Ltd., and his company will continue as a Unimax shareholder. He was a key driver in bringing the Point S banner to Canada, the company said. He will continue as a "special advisor" to the wholesale business's transition in 2022.
The four Pneus Lavoie warehouses are located in Gatineau (QC), Ottawa (ON), Belleville (ON) and Brampton (ON).
“This acquisition is in line with our growth strategy in Ontario and western Québec,” says Bruno Leclair, CEO and president of Distribution Stox. “We are very much looking forward to welcoming the wholesale distribution team from Pneus Lavoie to Distribution Stox, as well as continuing to offer quality products and superior service to all their customers.”
Lavoie says, “Thanks to the talent and commitment of our employees, we are leaving Distribution Stox a well-established, future-oriented company. Once this transaction is finalized, I will be able to concentrate on retail and retreading operations and continue our expansion.”
With the additional warehouses, Distribution Stox will grow to a network of 21 warehouses with more than 1.5 million square feet of storage in six Canadian provinces.
Distribution Stox says it will begin implementing a transition plan in the coming weeks and months to leverage "the strengths of these two teams. The addition of new product lines, use of new management tools, sharing of expertise and strength of our teams are examples of exciting projects that justify our confidence in looking ahead to a bright future."