Reuters is reporting that Meritage Group LP, the investment firm that owns Les Schwab Tire Centers Inc., is "exploring options" to sell the dealership.
In an Aug. 9 report, Reuters said the Bend, Ore.-based tire dealership could be valued at more than $7 billion and that Meritage "has tapped investment bankers at Goldman Sachs to launch a sales process."
The possible sale "is expected to garner interest from private equity firms and other tire retailers," according to anonymous sources quoted by Reuters.
A Les Schwab spokesperson contacted by MTD declined to comment.
Meritage Group acquired Les Schwab from members of the Schwab family in September 2020.
At the time, Jack Cuniff, then-CEO of Les Schwab, said that the "decision to sell has always been about securing the long-term success of the company."
With 491 company-owned stores, Les Schwab is the fourth largest tire dealership on the recently published 2024 MTD 100, available in the July issue of MTD.
