Terry's Tire Town acquires Englewood Tire Wholesale
Terry’s Tire Town Holdings Inc. has acquired Englewood Tire Wholesale, one of the largest tire wholesale distributors in the New Jersey, New York and Connecticut area.
The addition of Englewood Tire's five East Coast distribution centers gives Terry's Tire Town 11 state-of-the-art warehouses across the eastern and midwestern United States. It also expands the company's wholesale distribution services to 12 states.
Those services include:
* the administration of American Car Care Centers (ACCC) and Eco Express programs; and
* the expansion, in reach and scope, of its associate dealer programs in multiple brands, including Bridgestone/Firestone TireStarz, MAST Alliance, Continental Gold, Kumho FUEL and Yokohama Advantage.
"More than just an ordinary business deal, this is a marriage of like-mind cultures and executives who know each other and share a common commitment to customer service as a top priority," said Terry's Tire Town in a press release.
Will Tolerton, CEO and president of Terry's Tire Town, told Modern Tire Dealer that talks between the companies began in 2009. "We had a handshake deal in August 2010."
Tolerton shares a longtime friendship with John Boyle, Englewood Tire's principal. For 10 years, the two have served together on the ACCC board of directors.
Like Terry’s Tire Town, Englewood grew and succeeded one customer at a time over decades -- in the case of Englewood Tire Wholesale, since 1946.
“Englewood has outstanding executive leadership and a premier sales team, and we are excited to work with our new colleagues,’’ says Tolerton, who added that the company plans to keep everyone from Englewood on the payroll.
Boyle will become executive vice president of Terry’s Tire Town. Boyle also will join the Terry’s Tire Town board of directors.
Scott Williams, Englewood Tire's number two executive for more than 20 years, will become a regional vice president.
The recent growth of Terry’s Tire Town is the result of a strategic plan and partnership between Tolerton and Talisman Capital Partners that began in November 2010. In February 2011, Terry’s Tire Town acquired tire wholesaler Summit Tire of New England and its warehouses in Brockton, Mass.; Nashua, N.H.; and Westbrook, Maine.
The distribution centers previously owned by Englewood Tire are located in Happauge, N.Y.; East Hartford, Conn.; and Lyndhurst, West Deptford and Middlesex, N.J.
Terry’s Tire Town, based in Alliance, Ohio, stocks more than 800,000 tires in all sizes and brands. For more information, visit www.terrystiretowninc.com.