Somerset Tire agrees to buy Wholesale Tire Co.'s retail stores
Bound Brook, N.J.-based Somerset Tire Service (STS) has entered into an agreement to purchase the retail division of Wholesale Tire Co., which has 18 locations throughout Long Island, N.Y., and metropolitan New York City.
STS has targeted the New York City market for future growth since opening its first store in the area two years ago, say dealership officials.
The buy-out will bring STS's total store count to 101 retail outlets and seven wholesale centers throughout New York, Pennsylvania, New Jersey and Massachusetts.
It would make STS the ninth largest independent tire chain in North America, according to Modern Tire Dealer statistics. Last year, STS reported $100 million in sales.