Conclusion of an agreement to acquire Simmons Tires and Service Centre Ltd. wholesale division

Distribution Stox confirms the conclusion of an agreement in principle to acquire the wholesale division of Newfoundland based Simmons Tires and Service Centre Ltd.

Along with the acquisition of Simmons Tires and Service Centre Ltd. wholesale activities, Distribution Stox will be building a brand new 25,000 square feet distribution facility in the city of Pasadena. The goal is to have operations up and running in the early part of 2025. Such an initiative will enhance the delivery process for customers located on the west coast of Newfoundland.  

Activities of the two Simmons Tires and Service Centre Ltd. locations in Corner Brook and Deer Lake will join the Point S banner family, one of the largest networks of independent tire and auto service dealers in the country.

“This is considered an important milestone for our company; we will focus efforts on the retail side through our two locations. We are convinced joining a banner as strong as Point S will truly help us grow our retail business while also giving us the leeway of keeping our customer centric DNA which has made our success so far. We are confident Distribution Stox will maintain the trustworthy client relationship built throughout the years.” declared Adam Buckle, Chief Financial Officer, Marine Group of Companies.

“This acquisition combines key pieces of our growth strategy by granting Distribution Stox a key presence on the western coast of the island of Newfoundland as well as adding two locations to our Point S banner. Investing in the construction of a brand-new distribution facility represents another step into our continuous commitment towards servicing our customers in the region.” declared Jean Novak, Distribution Stox President & CEO.