As part of its growth plan, Distribution Stox announced that an agreement has been reached for the acquisition of the wholesale distribution division of Pneus GBM, specializing in the distribution of tires for cars and light trucks in the regions of Abitibi Témiscamingue and Northern Québec as well as the Mont-Laurier area.
The transaction is expected to be completed in Spring 2023 and will coincide with the opening of a brand-new distribution center located in Val d’Or, Québec.
Pneus GBM retail activities will keep on going in all service branches under the Point S banner, servicing customers in those regions whilst remaining under Maurice Boivin’s ownership.
“This is considered an important milestone for our company. Our main objective will now be centered around the development of our sales. We will focus our efforts on the retail side through our service branches as well as the commercial, industrial, forest and mining sectors. We are convinced Distribution Stox will be able to maintain the trustworthy client relationships built throughout the years,” noted Maurice Boivin, President of Pneus GBM.
“This acquisition is part of our growth strategy and will grant Distribution Stox a key presence in those Québec regions. The investment we are putting into the construction of our brand-new distribution center will allow us to centralize our activities, improve our service offer and continue our development,” noted Jean Novak, President and Chief Executive Officer of Distribution Stox.
“In the upcoming months, a joint transition plan aiming at the optimization of both teams’ strengths as well as an effective migration of our distribution activities for the benefit of our customers will be put in place,” noted Leif Ellefsen, Executive Vice-President and Chief Operating Officer of Distribution Stox.