EDMONTON, AB, May 25, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (TSXV: DPF) ("Dr. Phone Fix" or the "Company"), one of Canada’s leading and fastest-growing consumer electronics repair and resale platforms, is pleased to announce that it has entered into a definitive agreement to acquire the assets of Cell Phone Solutions, a well-established device repair business located in Saint John, New Brunswick (the "Transaction").
The acquisition, together with the signing of two additional retail leases in New Brunswick and Ontario, represents another step forward in the Company’s national expansion strategy and reinforces its commitment to growth through strategic acquisitions and disciplined greenfield development.
Transaction Highlights
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Acquisition of an established, revenue-generating device repair business in Saint John, New Brunswick
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Total purchase consideration of approximately $175,000, including roughly $40,000 of inventory
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Initial cash payment of $50,000 upon closing, with the remainder consisting of deferred and performance-based consideration
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Balance of the purchase price to be satisfied through the issuance of common shares, aligning vendor interests with long-term shareholder value creation
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Earn-out provisions tied to future revenue performance
The transaction structure reflects Dr. Phone Fix’s disciplined approach to capital allocation while ensuring alignment between the vendor and the Company’s long-term growth objectives.
Expanding Presence in Atlantic Canada
The acquisition provides Dr. Phone Fix with an established operating location and loyal customer base in New Brunswick, generating approximately $350,000 in annual revenue. Management believes there is significant opportunity to enhance performance through integration into the Company’s centralized operating platform, leveraging procurement efficiencies, optimized pricing strategies, enhanced marketing initiatives, and standardized operating procedures.
In addition, Dr. Phone Fix has secured two new retail locations in New Brunswick and Ontario, further supporting its strategy of increasing regional density, strengthening brand visibility, and expanding into underserved markets.
“This acquisition, combined with the addition of two new locations, represents another important milestone in the execution of our growth strategy and establishes a meaningful presence in our sixth Canadian province,” said Piyush Sawhney, Founder and Chief Executive Officer of Dr. Phone Fix. “We continue to see attractive acquisition opportunities across Canada within a highly fragmented industry. By combining strategic acquisitions with selective greenfield store openings, we are building a scalable national platform designed to deliver sustainable long-term growth. This balanced approach enables us to accelerate expansion while maintaining disciplined capital management.”
Long-Term Growth Strategy
Canada’s device repair industry remains highly fragmented, with the majority of operators consisting of independent, single-location businesses. Dr. Phone Fix continues to position itself as a leading industry consolidator, pursuing growth through acquisitions, operational integration, and organic store development.
Management believes the Company’s centralized operating model, OEM partnerships, national procurement capabilities, and standardized training programs provide meaningful competitive advantages in integrating acquired businesses and improving operating performance. Many acquisition targets operate below their full potential prior to integration, creating opportunities for margin expansion and value creation.
The Transaction is expected to close in the near term, subject to customary closing conditions and regulatory approvals, including acceptance by the TSX Venture Exchange.
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