Retail

Pep Boys Acquires 12 Tire Stores in Memphis

Posted on May 16, 2017

Pep Boys — Manny, Moe & Jack has acquired 12 retail tire locations in the Memphis area with the purchase of Mathis Tire & Auto Service Inc. and Direct Tire Distributors Inc.

“We are excited about this acquisition of a strategic 12-location automotive service chain and tire wholesale business, which positions Pep Boys as the third-largest automotive repair and maintenance chain in Memphis,” says Pep Boys’ President of Service, Bill Ihnken. “It allows us to enter into a new market with Pep Boys’ service business while leveraging well-established locations with significant growth potential.”

Mathis Tire has been in business for 24 years, and has nine locations — four in Memphis, plus stores in Collierville and Bartlett Tenn., plus two stores in Southaven, Miss. and one in Olive Branch, Miss.

In 2003, Mathis Tire purchased Direct Tire, a three-store tire dealer and tire wholesaler that has operated in the area for nearly 40 years. All three of Direct Tire's retail stores are in Memphis.

Pep Boys says it will expand the hours and services offered at all 12 locations as they transition to Pep Boys Service & Tire Centers. They will offer a full range of services such as oil changes, tire installations, brake repair and suspension work.

“With the help of the more than 90 experienced team members we are welcoming to our organization, Pep Boys has the opportunity to serve the automotive repair and maintenance needs of customers across the city of Memphis and its suburbs, including several communities in Mississippi,” says Daniel Ninivaggi, CEO of Icahn Automotive Group LLC, the parent company of Pep Boys. “In addition, this purchase includes a large tire warehouse, which houses over 6,000 tire units. We will grow its existing tire wholesale business and leverage this warehouse to launch a tire distribution operation in Memphis.

“This acquisition fits squarely into Pep Boys’ long-term strategy to grow its Service and tire distribution business in target markets across the U.S.”

Related Topics: acquisitions, Direct Tire Distributors Inc., Mathis Tire & Auto Service Inc., Pep Boys

Comments ( 0 )
More Stories
John Van Heel says the pressure from online sales channels benefits bigger players, and ultimately helps Monro's acquisition strategy.
News

Online Tire Sales Don’t Scare Monro

“It’s nice to be wanted, but it’s even nicer to be needed.” In a nutshell, that’s Monro Muffler Brake Inc.’s philosophy when it comes to online tire sales.  

News

Brake Jobs Help Monro's Existing Stores Boost Sales

The fact that overall sales at Monro Muffler Brake Inc. increased in the first quarter of fiscal 2018 is hardly news. The company's aggressive approach to acquisitions helps it continually add to the sales column. But in the latest quarter, Monro's existing, comparable stores helped the bottom line, too. And that's news.  

News

Nexen Explores Partnership Options With an Investment Company

  Nexen Tire Corp. has signed a memorandum of understanding "to explore strategic partnership opportunities" with Mubadala Investment Co. The strategic investment fund has made a direct investment in the tire maker as part of the agreement.  

Zixin Liu, market planning director for Wanli Tire Corp., spoke at the 2017 Shanghai International Auto Show.
Article

Who Is Wanli? Industry Analyst Breaks Down the Chinese Company

Following leaks from South Carolina in early June that Orangeburg County is expecting an investment of $1 billion from a Chinese company named “Wanli,” many in the tire industry wanted to know more details. Chief among them was the question, “Who on earth is Wanli?”

News

DSP Hires Bridgestone Veteran George Kingman

Dealer Strategic Planning Inc. (DSP) has hired George Kingman as the 20 Group’s associate director. Kingman brings extensive experience in sales and store management, productivity improvement and team building to DSP.

After 10 years in operation, DSP has updated its look.
News

DSP Unveils a New Logo

Dealer Strategic Planning Inc. (DSP) has unveiled a new logo for the company. The fresh, storefront design symbolizes the enhanced services DSP is offering to its 20 Group members.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!