Michelin Sells 4 TCi Stores and a Retread Shop to 2 Independent Tire Dealers
Michelin North America Inc. has sold four Tire Centers LLC (TCi) stores and a TCi retread plant to two independent commercial tire dealers.
Toledo, Ohio-based Shrader Tire & Oil Co. bought three TCi stores in Ohio: Columbus, Heath, and West Chester. Shrader also acquired the TCi retread plant in Pemberville, Ohio. The other buyer is Meekhof Tire Sales & Service Inc., based in Grand Rapids, Mich., which bought the TCi commercial outlet in Saginaw.
In response to Modern Tire Dealer’s questions, Michelin provided the following statement:
“Tire Centers LLC (TCi), a wholly owned subsidiary of Michelin North America Inc., has sold certain commercial locations in Ohio to Shrader Tire & Oil, and a location in Michigan to Meekhof Tire. The companies have agreed that financial and other terms of the transactions will not be disclosed. After these resolving these transactions, TCi’s remaining commercial operations in Colorado, Arizona and California will be transferred under the responsibility of Michelin Americas Truck Tires, the heavy-truck tire unit of Michelin North America, as previously announced. We expect this transition to be completed by the end of the year.
“Under the agreement, Meekhof Tire acquires the commercial center in Saginaw, Mich.
“Under a separate agreement, Shrader Tire & Oil acquires three commercial centers and one retread plant in Ohio.
“Since substantially divesting the commercial centers, TCi has focused its efforts on expanding the distribution footprint and increasing the capacity of distribution centers to support new customers and new product categories. The Company is pleased with its progress in this direction in 2017.”
Shrader operates 13 commercial tire and fleet service centers and four bulk oil plants throughout Ohio, Michigan, and Indiana. Meekhof Tire has 10 locations; one is in South Holland, Ill., and the rest are in Michigan.