TORONTO — Three companies in the automotive aftermarket — Fountain Tire, Mr. Lube Canada GP Inc. and Point S Canada — have been named to the 2023 list of Canada's Best Managed Companies, which recognizes excellence in Canada-headquartered companies.
For Fountain Tire, it's the 30th consecutive such honor, one of only two companies to achieve that distinction, according to Deloitte Canada, the company that oversees the Best Managed Companies list.
The Edmonton-based tire and automotive service retailer has received the award every year since the program's inception in 1994, one of only two companies to earn that distinction.
Canada's Best Managed Companies recognizes excellence in Canadian-headquartered companies with annual revenues of $50 million or more. Every year, hundreds of entrepreneurial businesses compete for the designation in a rigorous and independent process that evaluates four main pillars: strategy; culture and commitment; capabilities and innovation; and governance and financials.
Fountain Tire was selected for the 2024 award for its strategic planning, customer relations, corporate culture and focus on innovation, Deloitte Canada said.
The company's business model of splitting ownership of individual stores with local investors/leaders continues to set Fountain Tire apart from its peers, the company said.
"We're incredibly proud of this milestone and the ongoing recognition as one of Canada's Best Managed Companies," Fountain Tire CEO Jason Herle said.
"As our organization has grown and evolved, we've stayed true to our core values and our commitment to partnerships. These attributes have stood the test of time, proving to be as relevant today as they were thirty years ago – and beyond," he said.
"From our ownership model to internal development of our associates, how we work with our customers to the many ways we support our communities, our focus on people and partnerships have been the key to our success."
Corporate developments that also contributed to Fountain Tire's win include a new ESG framework called "A better road ahead," and several digital services that aid in connecting with associates and customers to improve their experiences, the company said.
In addition to being named among Canada's Best Managed Companies each year since 1994, Fountain Tire has been a Platinum Club Member since 1999, in recognition of maintaining Best Managed status for seven or more years.
The only other company to have reached the 30-year milestone alongside Fountain Tire is Boston Pizza.
