K&M Tire Inc. plans to acquire Kansas-based Becker Tire & Treading Inc. The two companies have signed a letter of intent, and when the deal closes in late February K&M immediately will sell Becker Tire's retread shop and retail operations to other already-determined buyers.
The two parties announced the deal days after K&M Tire held its 2017 dealer conference in Overland Park, Kan.
Becker Tire operates eight retail stores in Kansas, plus a Bandag retread facility in its hometown of Great Bend, Kan. K&M declined to name the future buyers of the retail and retread operations, but said there is one buyer lined up for the retail operations, and another buyer for the retread shop.
Becker Tire's primary distribution center is in Great Bend as well.
Ken Langhals, president and founder of K&M says, “We are excited about the opportunity to add Becker Tire and its entire team of dedicated employees to the K&M Tire team. We have admired Becker Tire from afar over the years, beginning with Harold Becker and later his son Wayne and son-in-law, Larry Sisson. Their long history of family ownership is very similar to our own.”
“This is a very exciting time for Becker and we are thrilled to be able to continue serving our customers in Kansas and the surrounding states,” says Gary Albright, CEO and president of Becker Tire. “With the backing and strength of K&M, this will only enhance and accelerate the growth of the combined business in Kansas and the neighboring states.”
K&M operates 20 distribution centers, from its home state of Ohio, through the Dakotas and Texas.
"The Becker family views K&M as the right partners and this the right opportunity for Becker to continue its legacy in the tire business. They all agree the benefits of joining a strong industry player such as K&M is a tremendous opportunity for Becker and all of our employees, as the tire industry continues to consolidate and face larger and financially stronger competition."