60 Years of TBC
TBC Corp., one of North America’s largest marketers of automotive replacement tires, celebrated the 60th anniversary of its founding on March 23, 2016.
TBC’s story began in 1956 when a purchasing group of tire retailers was formed and collectively recognized as Cordovan Associates. In 1972, after much success, Cordovan Associates changed its name to Tire & Battery Corp.; just nine years later it became a publicly traded company known as TBC to tire dealers and TBCC on the NASDAQ stock market.
“As we reflect on the last 60 years, it’s apparent that the TBC story is truly one of hard work, adjusting to meet industry trends, exceeding customer expectations and growth,” says Erik Olsen, president, CEO and chairman of the board of TBC Corp., which is based in Palm Beach Gardens, Fla.
“Throughout the years we have worked diligently to remain a tire company ahead of the curve; our history, proven track record of success and continued growth speak to our overall objectives and I am confident that we have the right team in place, nearly 11,000 associates strong, to maintain momentum and to continue our industry leading position for years to come.”
TBC says it is the largest vertically integrated marketer of tires for the North American automotive replacement market more than 3,200 franchised and company-operated tire and automotive service centers, nine proprietary tire brands and more than 50 retail and wholesale distribution centers. All of this adds up to responsibility for nearly 10% of all aftermarket tires sold in North America.
Throughout the years, TBC grew through joint venture opportunities, expanding operations to Mexico through TBC de Mexico in 1995, and by acquisition, the first being Big O Tires in 1996, now a franchise organization.
Prior to being acquired by Sumitomo Corporation of Americas (SCOA) in 2005, the largest subsidiary of Sumitomo Corp. of Japan, TBC added Carroll Tire Co., a leading wholesale tire distributor in the United Sates, and three retail brands: Tire Kingdom Service Centers, NTB Tire & Service Centers and Merchant’s Tire & Auto Service Centers.
Currently, there are nearly 800 company-owned retail locations throughout the United States.
In 2012, TBC added Midas, a provider of automotive services, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,100 franchised, licensed and company-owned shops in 13 countries, SpeeDee Oil Change & Auto Service, a franchise-based full-service automotive care company, and R.O. Writer, a leading provider of shop management software solutions for automotive repair and tire shops.
For more information, visit www.tbccorp.com.