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ATD to Buy Hercules

ATD has entered into an agreement and plan of merger with Hercules Tire.

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American Tire Distributors entered into an agreement and plan of merger with Hercules Tire & Rubber Co. according to an 8-K form filed with the Securities Exchange Commission on Jan. 24.

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“Hercules is a well-run company with an outstanding reputation in the industry,” said William “Bill” Berry, president and CEO of ATD, in a statement from the company.  “Joining forces with the Hercules team is a very positive step for American Tire Distributors.”

According to the 8-K filing ATD plans to buy the tiremaker for $310 million with the deal closing by the end of January. An additional $10 million could be paid “contingent upon the occurrence of certain performance-related and other post-closing events.”

The deal is expected to be funded by a combination of issuance of additional debt, equity contributors from ATD’s indirect parent, and borrowing under ATD’s credit, the filing states. 

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To see the full filing, click here

ATD operates 130 distribution centers across the U.S. and Canada. Hercules Tires operates four divisions-  Hercules Tire USA,  Hercules Tire Canada, Tire Dealer’s Warehouse, and Hercules Tire International. 

Check back periodically for updates.Or click here for a Q & A with ATD.

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