Groupe Touchette acquires Fastco Canada

Canada’s largest locally-owned tyre distributor has acquired the country’s largest manufacturer and distributor of alloy and steel wheels and accessories. With its purchase of Fastco Canada, Groupe Touchette Inc., views itself as positioned to “significantly expand” its service offering and is confident the transaction will provide Fastco Canada with “greater access to new markets.” The tyre wholesaler also speaks of “strong synergies in product offering.”

Groupe Touchette has traded since 1979 and reports “tremendous growth and expansion” over the past decade. It now operates more than 50 distribution centres and employs over 1,500 people. Distribution channels include original equipment tyres via TireLink, distribution to independent tyre dealers through the DT Tire business, retail tyre sales and automotive repairs via the Tireland – ICI Pneu and ICI Pneu Touchette networks, and Tire Partners, a network of independent tyre and automotive dealers. The company considers the acquisition of Fastco Canada – an “innovative company at the forefront of technology and driven by values of excellence” – to be in line with its growth plan.

Expanded product offering

“We are very pleased and proud to welcome Fastco Canada, a company that is registering rapid growth and with which we share great ambitions,” says Nicolas Touchette, co-owner and chief executive officer, Groupe Touchette Inc. “Our collaboration opens new avenues for both companies and allows us to expand our product offering as part of our strategic plan. Groupe Touchette and Fastco Canada have cultivated common values of excellence that motivate our respective employees. While remaining independent, both companies will continue to operate with common objectives to provide our customers with the best experience in the tyre and wheel categories.”

Groupe Touchette considers Fastco’s industry knowledge and expertise to be “unmatched in the market.” The company benefits from steady growth built on long-standing partnerships with large Canadian retailers, vehicle manufacturers, and tyre manufacturers. Fastco became Canada’s first importer of Falken tyres in 2000 and has served as a local distributor for Yokohama and Nexen tyres since 2009 and distributor of Pirelli and Hankook/Laufenn tyres since 2016. Fastco also counts Continental, Michelin, Nankang and Chinese brand Farroad as tyre partners.

Opening new opportunities

“We will now be able to count on the highly strategic experience of Fastco Canada,” says Frédéric Bouthillier, co-owner and chief operating officer, Groupe Touchette Inc. “Fastco Canada has not only been at the forefront of forward-looking sectors such as electric vehicles (EVs) but has created unique resources such as FastFinder that enable us to offer exclusive data and precise fitment solutions to our customers.”

“This announcement opens new opportunities and further expands our position as Canada’s leader in the design, production and distribution of alloy and steel wheels,” says Glenn Chaplin, president, Fastco Canada. “It will also increase the strength of our brands and open new opportunities for us in the future. I’m proud to see my sons Bob and Lee as well as the current leadership remaining at the heart of Fastco Canada and carrying on the Chaplin family culture.”

Fastco Canada’s operations in Vaudreuil-Dorion, Quebec and Airdrie, Alberta will continue as usual. Groupe Touchette says the agreement allows Fastco Canada to maintain its brands and management team. Additionally, both businesses and their respective teams will “remain independent while leveraging their strengths together.”