Telle Tire & Auto Service Inc. has acquired Meyer's Automotive in St. Louis, Mo., giving the 75-year-old tire dealership its fifth retail store in the greater St. Louis area.
Terms of the deal, which closed Dec. 16, 2016, were not disclosed. Telle Tire CEO and President Aaron Telle says the company plans to retain the entire Meyer's Automotive team. The company is working on a plan to eventually transition the Meyer's name to Telle Tire, and also create a cohesive brand plan for the storefronts and sales areas for all of its stores, he says.
"Meyer's has a very strong clientele and similar culture to Telle, which focuses on strong customer relationships and empowering its employees. Telle has identified a great opportunity to increase the tire business with Meyer's, as their business is currently around 80% service.
"Telle Tire sales have increased over 50% in 2016 and double-digit growth is anticipated for the foreseeable future."
The acquisition of Meyer's Automotive is the company's third acquisition in 18 months, and Telle says "We are prepared and well-positioned to make two-to-three acquisitions per year for the next five years. Additionally, we are looking at sites for potential new builds."
Telle says the company has a non-disclosure agreement in place for another acquisition, and expects that deal to close "sometime in 2017."
Telle Tire also operates stores in Richmond Heights, Fenton and Sunset Hills, Mo., as well as across the Mississippi River in Alton, Ill.