Mavis Will Acquire 112 NTB Stores
Mavis Tire Supply Co. is buying 112 NTB Tire & Service Centers, a move that will make it the second largest independent tire dealer in the U.S.
TBC Corp., which owns the NTB brand, says the 112 stores are located in the Philadelphia, Boston, Atlanta and Chicago markets. The deal, which is expected to close within the next month, will leave TBC's retail business with 615 locations under the Tire Kingdom and NTB banners.
Additionally, TBC says National Tire Wholesale, the distribution company TBC created with Michelin, will serve Mavis.
“Further consolidating our NTB footprint is consistent with our strategy to focus on core markets and entering into this agreement with Mavis makes great strategic sense for our company,” says Erik Olsen, CEO and president TBC. “The cash from this sale will serve to accelerate strategic initiatives that we are confident will support our underlying mission to exceed the expectations of all of our customers and partners spanning retail, franchise, wholesale, distribution and ecommerce.”
TBC says its NTB team members at the 112 locations, plus those in supporting field leadership roles, will have the opportunity to join Mavis.
“This agreement with NTB will enable us to grow our footprint in key markets and we are excited to welcome the talented NTB team members affiliated with these 112 locations to the Mavis family,” says David Sorbaro, co-CEO of Mavis. “We know that NTB team members are highly committed to exceptional customer support, and we are confident that customers at these locations will continue to receive best-in-class service.”
“We’re looking forward to continuing our partnership with Mavis as we transition these locations and for years to come through our distribution relationship,” says Olsen. “I know that the customers in these DMAs, first under the NTB brand and now with Mavis, will continue to experience an exceptional customer experience.”
Before this acquisition, Mavis held the No. 4 spot on the Modern Tire Dealer 100 list of the largest independent dealers in the U.S. — with 698 stores as of July 2019. TBC stood in the No. 2 spot with 720 stores.
Here's a new look at the Top 5:
1. Discount Tire/America's Tire: 1,033 outlets
2. Mavis: 810 outlets
3. Monro Inc.: 712 outlets
4. TBC Corp.: 608 outlets
5. Les Schwab Tire Centers: 429 outlets
Of course, there's the potential for even more shifts in this Top 5, as Les Schwab leaders announced in December the Oregon-born tire dealership was for sale.