ATD Finalizes Sale of National Tire Distributors
American Tire Distributors Inc. (ATD) has completed the sale of its Canadian subsidiary, National Tire Distributors (NTD), to Groupe Touchette Inc.
"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.," say ATD officials.
"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," says ATD President and CEO Stuart Schuette.
"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.
"We look forward to continuing to support NTD and Groupe Touchette as their combined business grows in Canada," he notes.
"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."
The sale was originally announced this past July. (Click here to read more.)