Retail

Fountain Tire buys long-time Edmonton dealership

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Fountain Tire Corp. has acquired Edmonton, Alberta-based Loveseth Automotive, a local fixture since 1929.

Terms were not disclosed.

The purchase gives Edmonton-based Fountain 15 shops in and around the city.

Loveseth exclusively sold Goodyear and Dunlop brand tires.

Fountain Tire is the 10th largest independent tire store chain in North America with more than 60 outlets, according to Modern Tire Dealer data.

Its 2001 sales totaled $250 million, Canadian.

Fountain also has more than 140 affiliated dealers throughout Canada.

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