BOUCHERVILLE, Quebec — Tire wholesaler Distribution Stox is at it again, announcing a deal to acquire its second tire distributor in the last month.
The Boucherville-based distributor is acquiring Les Distributions Claude Côté, a distributor of tires for cars, light trucks, and commercial vehicles in eastern Quebec. The acquisition will become official Jan. 31.
No financial figures were disclosed.
In mid-December, Distribution Stox announced a deal to acquire the wholesale distribution division of Service de Pneus Lavoie Outaouais Inc. (Pneus Lavoie), which specializes in distributing tires for cars, trucks and commercial vehicles in Ontario, as well as the Outaouais region of Québec. That sale is expected to close this month, pending the customary regulatory conditions for the transaction.
Distributions Claude Côté, founded in 1988, has become a leading distributor in Quebec's Bas-St-Laurent, Gaspésie and Côte-Nord regions, according to Distribution Stox.
"For many years, we have partnered with Distribution Stox to serve our customers, and I'm confident that they will continue to be well served and well treated," said Claude Côté, president of Distributions Claude Côté.
Côté, as well as all other of his employees, will transition to positions with Distribution Stox.
Bruno Leclair, president and CEO of Distribution Stox, said his firm's latest acquisition is part of its growth and consolidation strategy, bolstering its presence in Eastern Quebec.
"We're looking forward to welcoming Distributions Claude Côté team to Distribution Stox." he said. "In fact, the two companies share an important quality: close relationships with our customers. We're well known for providing excellent service, and that won't change."
Leclair said that starting on Feb. 1, Distributions Claude Côté customers will have access to more inventory from other Distribution Stox warehouses.
The acquisition adds one warehouse for Distribution Stox, which was founded in 2016. The firm now will have 22 warehouses with 1.7 million square feet of storage space. The company said that by the end of January, will implement a transition plan "to take full advantage of both teams' strengths. The addition of new management tools and the sharing of expertise and our teams' talents are just some of the exciting projects that give us confidence in the future."
