Deal to Close During Second Quarter, Includes More Than 1,000 Stores
March 5, 2021
A group of investors led by BayPine LP - in partnership with TSG Consumer Partners LP and a holding company controlled by David and Stephen Sorbaro - have entered into an agreement to acquire Mavis Tire Express Services Corp. for an undisclosed amount. The deal is expected to close during the second quarter of 2021.
Point S tire dealers in the U.S. had their best year ever in 2020. They sold 19% more tire units than the previous year and increased their overall sales by 20%. The cooperative added a record number of stores, expanded into five new states and bought its second wholesale operation in two years.
As the U.S. nears the one-year mark of the COVID-19 pandemic and shutdowns, all eyes are on the vaccines. McCarthy Tire Service Co. Inc. is tracking vaccine developments throughout its nine-state market area, and President John McCarthy Jr. is doing everything he can to encourage and enable employees to get their shots.
The U.S. Tire Manufacturers Association projects that 315.7 million total tires will ship in the United States this year versus 303.2 million units during 2020 and 332.7 million units shipped during the previous year.
Nexen Tire America Inc. has updated its tire warranty as of March 1, and also created a one-stop resource for tire dealers with the company's marketing tools, training resources, associate dealer program info and more.
Yokohama Rubber Co. Ltd. has set its global goals for 2023, and part of the company's vision is to increase both original equipment and replacement tire sales while focusing on its Advan and Geolandar lines, as well as its winter tire sales.
Atturo Tire Corp. is opening its second tire distribution center in two months. A facility opened in January in Danville, Va., and deliveries from another in Coppell, Texas, were to begin in the final days of February.
The Tire Industry Association (TIA) will kick off the week of the 2021 Specialty Equipment Market Association (SEMA) Show and Global Tire Expo with a TopGolf government affairs benefit, tire industry honors and annual meeting luncheon, plus the belated celebration of TIA's centennial.
Cooper Tire & Rubber Co. has extended the scope of a tire recall initially issued in September 2020 for certain Cooper CS5 Grand Touring tires and Mastercraft LSR Grand Touring tires in size 225/55R17. Last year’s recall covered four weeks of production, and it’s been extended through the beginning of 2021.
As a combined company, Goodyear Tire & Rubber Co. and Cooper Tire & Rubber Co. represent 200 million tires sold, annual revenues of $17.5 billion and a business that would be 80% focused on the replacement tire business.
Nokian Tyres plc is completing work on its third tire testing facility, a $73 million center south of Madrid, Spain, that features 10 tracks and will be used to test products for the North American market and beyond.
Blackburn OEM Wheel Solutions has improved its free transit shipping times across the United States. The enhancements impact Blackburn's next day (one business day) and second day (two business days) shipping zones.
Sumitomo Rubber Industries Ltd. plans to invest $122 million to increase daily production capacity from 8,250 tires to 14,300 tires for passenger cars, light trucks and medium trucks at its plant near Buffalo, N.Y.