American Tire Distributors Inc. (ATD) paid $75 million to buy AM-PAC Tire Distributors Inc., according to a filing with the Securities and Exchange Commission.
"Pursuant to the terms of the purchase agreement, the buyer acquired all of the issued and outstanding capital stock of the company from the sellers," said the filing document.
The acquisition gives ATD an additional 24 distribution centers in 10 states, as well as 40 retail stores that operate under AM-PAC's Tire Pros banner.
Also as part of the deal, ATD now owns AM-PAC's Tire Pros franchise operation, which has nearly 300 franchisees.
ATD Chairman and CEO Dick Johnson recently told www.moderntiredealer.com he would like to have 1,000 Tire Pros locations.
