LEXINGTON, S.C. (BRAIN)—Lambert, the largest P&A distributor in Canada and The Hawley Company, a leading U.S. P&A distributor based in South Carolina, have signed a letter of intent for Lambert to acquire a majority interest in Hawley.
The transaction is expected to be completed by December 31, 2010. Steve Hawley will continue as president of Hawley, running day to day operations and will remain a large shareholder.
“This transaction with Lambert starts a new, exciting chapter in our history," said Steve Hawley. “We have tremendous growth opportunities available to us and as a result of the partnership, our company will gain access to critical resources and enjoy significant synergies and economies of scale. This will enable us to better serve our dealers and vendors."
According to Sylvain Caya, general manager for Lambert, ”the partnership will be a perfect fit for Lambert’s strategic plans. Entering the U.S. market, without compromising our service levels in Canada, is the next logical step for our growth. With Hawley we join a dynamic management team and will leverage each other's best practices. Hawley shares our commitment to utilize an outside sales team to support our dealers and develop brands."
As a result of the partnership, Hawley will be introducing several new brands at this year's Interbike. These new lines will be available from Hawley in 2011.
