TBC Corporation, a major US marketer of automotive replacement tyres, has reported the successful completion of its acquisition of Mueller Tyre & Brake, one of the largest independent tyre retailers in Ohio. Exact terms of the transaction were not disclosed.
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Mueller operated 19 retail tyre and automotive service centres in Northeast Ohio and Columbus. With the successful completion of the deal, the Mueller stores have now become part of TBC’s Florida-based subsidiary, Tyre Kingdom.
“This acquisition serves as an immediate entry for Tyre Kingdom into markets in the midwestern United States,” said TBC president and CEO Larry Day.
“Until now, our operations have primarily served replacement tyre and automotive service needs in the southeastern United States. From the time TBC acquired Tyre Kingdom in June 2000, one of our goals has been to expand its geographic reach outside the Southeast. The Mueller retail outlets give us that expanded retail presence and are also a nice fit operationally.”
The addition of the Mueller locations brings the total number of Tyre Kingdom stores at the end of March to 204, compared to 182 at the end of 2001. The company plans to add at least 20 new stores during 2002, exclusive of acquisitions.
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By GlobalDataThe newly-added stores have already been integrated into the Tyre Kingdom system and the lines of private and major brand tyres carried by existing stores are now available in the new stores.
