Correa Tire Distributors celebrated the completion of its third retail location in Puerto Rico on April 23 with a welcoming reception and party. Invited guests included existing customers, suppliers and Modern Tire Dealer.
Correa President Josue Correa said his company, already one of the largest tire distributors in Puerto Rico, wanted to grow the retail side "and be a known company." The new location is located on Roosevelt Drive in San Juan, very close to the largest shopping area in Puerto Rico and right in the heart of the financial and commercial corridor. The store is slated to open in June of this year.
Correa Tire is co-owned by Josue and his brother, Ricardo Correa. They bought the business from their father in December 2014.
The company began planning the new location eight years ago. The current economic downturn made buying the prime location possible, according to Josue. The new location carries Bridgestone signage and is part of that company's "Bridgestone Store" program run by Bridgestone Costa Rica. Correa will offer full service in tires and repair work when the 3,685-cubic-meter store is open.
Correa Tire Distributors has annual sales of $14 million. The company still operates a retail, wholesale and retreading operation at its original location in Dorado, which is just west of San Juan. It has a third location in Ponce, which is on the south side of the island. In addition, Correa operates an exporting business in the Free Trade Zone.
Correa plans to grow the exporting business to become a major player in tire distribution throughout the Carribean. It currently has about 20,000 tires in stock in the Free Trade Zone.
MTD will have more on Correa Tire Distributors in an upcoming issue.
