Belron Canada Inc., a subsidiary of Belron S.A., the vehicle glass repair and replacement company, announced 1 September 2005 that it has signed an Asset Purchase Agreement with TCG International Inc….
Belron Canada Inc., a subsidiary of Belron S.A., the vehicle glass repair and replacement company, announced 1 September 2005 that it has signed an Asset Purchase Agreement with TCG International Inc.“s Autostock International Division for the acquisition of its Canadian glass operations, headquartered in Burnaby, British Columbia. The transaction is scheduled for completion in November 2005 and is subject to customary regulatory approvals. “We are excited about the opportunity to provide the best service in all areas of the country, taking advantage of the complementary strengths of the two companies and adding value to our partners and customers,” said Gary Lubner, Chief Executive Officer CEO of Belron S.A. “I am confident that the valuable brands of Autostock International and Belron Canada, together with the employees and franchisees who operate them, will provide enormous value to our company and the Canadian consumer.” Once the transaction is completed, Belron Canada customers will have access to an extensive corporate and franchise network as well as an improved wholesale distribution network across the country. “Belron is the best positioned company to continue to build these businesses and I am pleased to see these two companies come together” said Allan Skidmore, Co-Executive Chairman and CEO TCG International, CEO- Automotive Group. “I am fully satisfied that Belron will build upon the successful strategies and business we have put in place.” Based in Montreal, Belron Canada provides services and solutions for auto glass repair and replacement. It operates under three retail banners: Lebeau Vitres d“autos, Standard AutoGlass, and DURO vitres d“autos. Its wholesale activities are carried out under the Vanfax and Technicentre Plus trade names. It also offers claims management services. Belron Canada has 230 service centres and 32 distribution facilities across all ten provinces. Autostock International“s Canadian Glass Operations provide services and solutions for auto glass repair and replacement under three banners: Speedy Glass, Apple Auto Glass, Novus Repair and Replacement. Speedy Glass is also active in commercial and residential glass replacement. Wholesale activities are offered through Autostock Distribution and claims management services through the 1st Report Claims Services division. Autostock International has 260 service centres and 33 distribution facilities in Canada.