American Tire Distributors is making another purchase, this time the distributor is acquiring all the outstanding capital stock of Terry’s Tire Town Holdings.The acquisition of Terry’s, based in Alliance, Ohio, is expected to close the end of March or early April.
The announcement comes following ATD’s recent purchase of Hercules Tire & Rubber Co.
“The opportunity for ATD and Terry’s Tire Town to join forces is very positive for the future of both companies and for our customers,” said William Berry, president and CEO of ATD. “After the transaction closes, we will be able to offer all the services and programs customers enjoy today, plus much more.”
Terry’s was founded in 1972 as a single retail location and later moved into wholesale distribution in 1984. Through the years, and helped by a 2010 recapitalization led by an investor group led by Talisman Capital Partners, Terry’s expanded into the mid-Atlantic region – New York, New Jersey and New England- via new locations and the acquisitions of Summit Tire and Englewood Tire Wholesale in 2011.
Terry’s sold all seven of its retail locations in 2011. The company currently operates 10 distribution centers as well as a commercial tire operation.
ATD only recently opened locations in New Jersey, Long Island and New England and the purchase of Terry’s will help the distributor to better serve automotive service retailers in these markets, it said.