DISTRIBUTION STOX ANNOUNCES THE CONCLUSION OF AN AGREEMENT TO ACQUIRE THE WHOLESALE DISTRIBUTION DIVISION OF SERVICE DE PNEUS LAVOIE OUTAOUAIS INC
As part of its growth plan, Distribution Stox is proud to announce that an agreement has been reached for the acquisition of the wholesale distribution division of Service de Pneus Lavoie Outaouais Inc. (Pneus Lavoie), specializing in the distribution of tires for cars, trucks and commercial vehicles in Ontario as well as the Outaouais region of Québec. The transaction is expected to be completed at the beginning of 2022 and is subject to usual conditions for this type of transaction. Retail divisions operating service centres under the Point S banner, as well as the tire retreading facility, that serve Québec and Ontario will remain the property of Mr. Normand Lavoie. Service de Pneus Lavoie Outaouais Inc. will remain an important shareholder of Unimax Ltd., where Mr. Lavoie was Board Chair for many successful years. He was also an important link in the transition of Unimax’s business model. Under his leadership, the company changed from a cooperative model to a corporate one. Moreover, he was one of the main initiators of Point S’s arrival in Canada.
Throughout its many years of existence, Pneus Lavoie has carved out an important place for itself in the tire distribution field in Ontario and the Outaouais region, with its four (4) warehouses based in Gatineau (QC), Ottawa (ON), Belleville (ON) and Brampton (ON). “This acquisition is in line with our growth strategy in Ontario and western Québec,” explained Mr. Bruno Leclair, President & Chief Executive Officer 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.” As special advisor, Mr. Lavoie will ensure the transition throughout 2022.
“Thanks to the talent and commitment of our employees, we are leaving Distribution Stox a well-established, future-oriented company,” noted Mr. Lavoie, owner of Service de Pneus Lavoie Outaouais Inc. “Once this transaction is finalized, I will be able to concentrate on retail and retreading operations and continue our expansion.”
The transaction will add $100M to our revenues, and the Distribution Stox network will grow by four (4) new warehouses, for a combined total of twenty-one (21) warehouses with more than 1.5 million square feet of storage area. This will allow us to serve our customers from Ontario, Québec and the Atlantic provinces, giving us a presence in six Canadian provinces. During the coming weeks and months, Distribution Stox will be implementing a transition plan aimed at leveraging 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.