Dr. Phone Fix Canada (DPF.V) has entered into a definitive agreement to acquire the assets of Cell Phone Solutions, a device repair business based in Saint John, New Brunswick, Dr. Phone said Monday.
The purchase price totaled C$175,000, including about $40,000 in inventory, it added.
The acquisition of Cell Phone Solutions provides Dr. Phone Fix with an established, revenue-generating location and a loyal customer base in New Brunswick, currently generating approximately $350,000 in annual revenue, Dr. Phone Fix said.
The deal follows Dr. Phone Fix's signing of two new retail locations in New Brunswick and Ontario.
"By combining acquisitions with selectively opening new stores, we believe we are building a scalable platform for long-term growth," said Piyush Sawhney, founder and chief executive officer of Dr. Phone Fix. "This dual approach allows us to accelerate growth while maintaining strong capital discipline."