K&M Tire Inc. has signed a letter of intent with Becker Tire & Treading Inc. to acquire the Great Bend, Ka.-based tire dealer. The transaction is expected to take place by the end of February 2017.
“We are excited about the opportunity to add Becker Tire and its entire team of dedicated employees to the K&M Tire team,” said Ken Langhals, president and founder of K&M. “We have admired Becker Tire from afar over the years, beginning with Harold Becker and later his son Wayne and son-in-law, Larry Sisson. Their long history of family ownership is very similar to our own.”
Following the acquisition, K&M will keep the wholesale business and sell Becker Tire’s Bandag retread facility and seven retail outlets across Kansas to operate under different ownership, K&M said.
“This is a very exciting time for Becker and we are thrilled to be able to continue serving our customers in Kansas and the surrounding states,” said Gary Albright, president and CEO of Becker Tire. “With the backing and strength of K&M, this will only enhance and accelerate the growth of the combined business in Kansas and the neighboring states.”
K&M currently operates 20 distribution centers from Ohio to the Dakotas and into Texas.
