Mavis Discount Tire nearly doubles its size
Mavis, which is based in Mount Kisco, N.Y., has purchased Syracuse, N.Y.-based Cole Muffler Brake for an undisclosed sum. Cole has 47 stores, most of them in New York. (Prior to the acquisition, Mavis had more than 60 outlets throughout New York, Connecticut, Pennsylvania and Massachusetts.)
The deal "came up quickly," Mavis co-owner David Sorbaro told www.moderntiredealer.com. (Sorbaro runs the dealership with his brother, Steve Sorbaro.)
"We approached them. They're a great company. They're very similar to our company."
Mavis purchased the chain from its founder, Don Cole. "It was an asset purchase." (Mavis currently leases the properties from Cole.)
"We have the rights to use the Cole name. It's a very strong name, especially in upstate New York. We're not in a rush to make any radical changes."
However, in areas where Cole and Mavis stores are in close proximity, "we'll convert (Cole outlets) to Mavis stores" in order to take advantage of advertising synergies.
Some product synergies are already in place. While Cole markets itself as a muffler shop, it has always sold tires, noted Sorbaro.
Mavis currently sells Cooper, Dunlop, Firestone, General and Goodyear brand tires.