Michelin North America has sold four Tire Centers LLC (TCi) stores and a TCi retread plant to two independent commercial tire dealers.
Shrader Tire & Oil purchased three Ohio-based TCi stores in Columbus, Heath and West Chester. In addition, the company also bought the TCi retread plant in Pemberville, Ohio.
Commercial tire dealer Meekhof Tire Sales & Service Inc., based in Grand Rapids, Mich., bought a Michelin TCi commercial outlet in Saginaw, Mich.
After reaching out to Michelin with questions, Tire Review received this statement from the company:
“Tire Centers, LLC (TCi), a wholly owned subsidiary of Michelin North America, Inc., has sold certain commercial locations in Ohio to Shrader Tire & Oil, and a location in Michigan to Meekhof Tire. The companies have agreed that financial and other terms of the transactions will not be disclosed. After these resolving these transactions, TCi’s remaining commercial operations in Colorado, Arizona and California will be transferred under the responsibility of Michelin Americas Truck Tires, the heavy-truck tire unit of Michelin North America, as previously announced. We expect this transition to be completed by the end of the year. Under the agreement, Meekhof Tire acquires the commercial center in Saginaw, Mich. Under a separate agreement, Shrader Tire & Oil acquires three commercial centers and one retread plant in Ohio.”
“Since substantially divesting the commercial centers, TCi has focused its efforts on expanding the distribution footprint and increasing the capacity of distribution centers to support new customers and new product categories,” said Eric Bruner, director of external communications for Michelin North America. “The Company is pleased with its progress in this direction in 2017.”
