Les Schwab Tire Centers has reached an agreement to acquire Plains Tire Co., an 80-year-old tire company with nine stores in Wyoming.
Les Schwab will purchase Plains Tire for an undisclosed sum, said Les Schwab CEO Jack Cuniff.
“We opened our first store in Wyoming in Rock Springs in 2019 with plans to grow our footprint over time. With this purchase, we are able to serve much of the state in one step,” Cuniff said. “Plains Tire is a strong and healthy company, and it’s exciting to be able to speed up our growth by welcoming these stores, employees and customers into Les Schwab.”
Les Schwab said it plans to continue growing organically by opening its own new stores, in addition to proactively pursuing other expansion and buy-out opportunities, said Corey Parks, chief administrative officer who leads the company’s expansion and development initiatives. “Les Schwab is actively looking for opportunities to acquire other great companies like Plains Tire.”
The company says no changes will be made immediately for the Plains Tire stores while Les Schwab evaluates how best to integrate the two companies. The sale is expected to close in early August 2021.