Terry's Tire Town sells seven stores to Monro
Terry's Tire Town Inc. has sold all seven of its retail stores to Monro Muffler Brake Inc. The purchase gives Monro nearly 300 retail tire dealerships.
Six of the stores are located in Ohio; the seventh is in metropolitan Pittsburgh, Pa.
In a statement on its website, www.terrystiretowninc.com, the co-owners had this to say about the sale.
"Terry's Tire Town and the Tolerton family would like to extend heartfelt gratitude to Alliance and the communities in the greater Stark County area for their 39 years of support of our retail tire locations. Over the years, we have strived to become a premier provider of tire and automotive service as well as active, conscientious members of the communities that we serve.
"After much deliberation, however, the decision was made to sell our retail operations as we concentrate on growth as a leading national distributor of tires of all major brands. Our corporate headquarters and midwest distribution center will remain in Alliance.
"This was a difficult decision, but we feel it is the correct one. Although a single retail store in downtown Alliance marked our entrance into the tire industry, our focus quickly turned to wholesale distribution. Today, the growth of our wholesale distribution network, our three commercial-tire facilities and our retread plant are critical to our future success.
"Earlier this year, we added three distribution centers in New England to our three existing distribution centers in Alliance, Ohio; Baltimore, Md.; and Richmond, Va. (Editor's note: the three distribution centers, located in Brockton, Mass., Nashua, N.H., and Westbrook, Maine, were added when the company acquired Summit Tire of New England in February.) Further wholesale expansion will take place in the coming weeks, months and years as we look to introduce our innovative approach to wholesale distribution nationally.
"Together with the Tolerton family, we at Terry's Tire Town pledge to remain a great corporate citizen and we look forward to continuing our support of the Stark County community. Again, we extend our deep appreciation for all the community support we have received since our inception in Alliance in 1972."
Terry's Tire Town, one of the largest tire distributors in the eastern United States, is owned by the Tollerton family and Talisman Capital Partners. They entered into the partnership in November 2010.
Monro Muffler is the fourth largest independent tire dealer in the U.S., according to the Modern Tire Dealer 100 list. For more information, visit www.monro.com.