TBC acquires 21 Tires Plus stores in the Midwest
TBC Corp. has acquired 21 former Tires Plus retail outlets throughout the Midwest and has converted them to its National Tire & Battery (NTB) format.
Fifteen of the stores are in the Minneapolis/St. Paul, Minn., market, according to TBC officials, while two are in Milwaukee, Wis., two are in Madison, Wis., one is in Dekalb, Ill., and one is in Mason City, Iowa.
Terms of the transactions were not disclosed. Tires Plus is a retail chain owned by Bridgestone Retail Operations LLC.
"It is important to note that we did not purchase Tires Plus franchises at these stores," say TBC officials. "TBC only purchased the store assets from the owners. After selling the store assets to TBC, the former owners are terminating their franchise relationships under the terms of the contracts which governed the operations of these stores as Tires Plus franchises."
The stores ceased operations as Tires Plus on Sept. 30, they add.