Distribution Stox recently confirmed the conclusion of an agreement in principle to acquire the wholesale division of Newfoundland-based Simmons Tires and Service Centre Ltd. — though it has plans for much more.
In a news release, the company said it also plans to build a new 25,000 square-foot distribution facility in the city of Pasadena, Nfld. They are aiming to have operations up and running by early next year. The initiative should help boost the delivery process for customers located on the west coast of the province.
“This acquisition combines key pieces of our growth strategy by granting Distribution Stox a key presence on the western coast of the island of Newfoundland as well as adding two locations to our Point S banner,” said Jean Novak, President & CEO of Distribution Stox, in a statement.
“Investing in the construction of a brand-new distribution facility represents another step into our continuous commitment towards servicing our customers in the region,” he added.
Simmons Tires and Service Centre Ltd. activities in Corner Brook and Deer Lake will join the Point S banner family, which Distribution Stox described as among the largest networks of independent tire and auto service dealers in Canada. In a statement Adam Buckle, Chief Financial Officer of Marine Group of Companies, said they considered the addition an important milestone for the company.
“We are convinced joining a banner as strong as Point S will truly help us grow our retail business while also giving us the leeway of keeping our customer-centric DNA, which has made our success so far,” said Buckle.
