ATD to purchase Terry's Tire Town
On the heels of the January announcement of its purchase of Hercules Tire Holdings LLC, American Tire Distributors Inc. (ATD) has executed an agreement to acquire all of the outstanding capital stock of Terry’s Tire Town Holdings Inc. headquartered in Alliance, Ohio. The acquisition is expected to close in late March or early April.
Founded in 1972 with a single retail store in Alliance, Ohio, Terry’s Tire Town later moved into the wholesale distribution segment of the business in 1984. Over the years, and facilitated by a 2010 recapitalization led by an investor group organized by Talisman Capital Partners, Terry’s Tire Town expanded into the mid-Atlantic, Metro New York, New Jersey and New England via greenfield openings and the acquisitions of Summit Tire and Englewood Tire Wholesale in 2011.
Terry’s Tire Town exited the retail business completely by selling all seven of its retail stores in October 2011. It currently operates 10 distribution centers as well as a commercial tire operation.
“The opportunity for ATD and Terry’s Tire Town to join forces is very positive for the future of both companies and for our customers,” says Bill Berry, CEO and president of ATD. “After the transaction closes, we will be able to offer all the services and programs customers enjoy today, plus much more.”
ATD opened in the New Jersey, Long Island and New England markets via greenfield openings over the past two years. By combining with Terry’s Tire Town, ATD will enhance its ability to service tire and automotive service retailers in these U.S. markets, the company says.
ATD operates 152 distribution centers, including 28 distribution centers in Canada, serving approximately 72,000 customers across the U.S. and Canada.