CHARLOTTE, N.C. (May 3, 2013) — American Tire Distributors Holdings Inc.'s TriCan Tire Distributors Inc. subsidiary has closed its acquisition of Regional Tire Distributors Inc. of Burlington, Ontario.
The acqusition, for about $62.5 million, will significantly expand ATD's presence in the Ontario and Atlantic provinces, according to ATD, through RTD Ontario's nine distribution centers—five in Ontario and four in the Atlantic Provinces.
RTD Ontario services about 3,100 customers, ATD said.
The purchase price is subject to certain, as-yet undisclosed post-closing adjustments, ATD said in late March when it first disclosed the RTD purchase agreement.
ATD did disclose RTD's sales.
The distributor first entered the Canadian market in November with the purchase of Edmonton, Alberta-based TriCan.
ATD said it expects to fund the acquisition through borrowings under its Sixth Amended and Restated Credit Agreement.