Group Touchette Inc. has acquired Fastco Canada, a Quebec-based wheel manufacturer and distributor.
According to Group Touchette officials, the acquisition allows Group Touchette "to significantly expand its service offering to its customers and provides Fastco Canada with greater access to new markets. The transaction also promotes strong synergies in product offering for the benefit of both companies' customer base.
"The Fastco Canada acquisition is in line with Groupe Touchette's growth plan by joining forces with an innovative company at the forefront of technology and driven by values of excellence."
Fastco was founded by Glenn Chaplin in 1970.
Groupe Touchette says Fastco "is the largest manufacturer and distributor of alloy and steel wheels and accessories in Canada, with facilities in Vaudreuil-Dorion, Québec, and Airdrie, Alberta.
"Fastco, designs, manufactures, and distributes the Fast Wheels, Fast HD, Fast EV, Braelin and Replika wheel brands, as well as a full accessory program called Dialyn."
"We are very pleased and proud to welcome Fastco Canada, a company that is registering rapid growth and with which we share great ambitions," says Nicolas Touchette, co-owner and chief executive officer, Groupe Touchette.
"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."
"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" says Fastco's Chaplin.
"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's operations in Vaudreuil-Dorion, Quebec, and Airdrie, Alberta, will continue as usual, according to Group Touchette officials.
"The agreement allows Fastco Canada to maintain its brands and management team."
