Conclusion of an agreement to acquire the Wholesale Distribution division of Pneus GBM Inc.

As part of its growth plan, Distribution Stox is proud to announce the conclusion of the acquisition for the wholesale distribution division of Pneus GBM Inc specializing in the distribution of tires for cars and light trucks in the regions of Abitibi Témiscamingue and Northern Québec as well as the Mont-Laurier area as of May 31, 2023.

As mentioned in previous communications, Pneus GBM Inc retail activities will keep on going in all service branches under the Point S banner, servicing customers in those regions whilst remaining under Maurice Boivin’s ownership.

“This is considered an important milestone for our company. Our main objective will now be centered around the development of our sales. We will focus our efforts on the retail side through our service branches as well as the commercial, industrial, forest and mining sectors.

We are convinced Distribution Stox will be able to maintain the trustworthy client relationships built throughout the years” noted Maurice Boivin, Pneus GBM Inc President.

“This acquisition is part of our growth strategy and will grant Distribution Stox a key presence in those Québec regions. The investment into the construction of our state-of-the-art distribution center will allow us to centralize our activities, improve our service offer and continue our development” noted Jean Novak, President and Chief Executive Officer of Distribution Stox.

“In the past few months, a joint transition plan aiming at the optimization of both teams’ strengths as well as an effective migration of our distribution activities for the benefit of our customers has been successfully deployed” noted Leif Ellefsen, Executive Vice- President Growth and Strategic Partnerships.