OK Tire is investing $100 million over the next five years to expand its distribution center capabilities across Canada, as it drives to grow market share as the country’s largest independent tire and auto service retailer.
“Thanks to our dealers, we are experiencing phenomenal and consistent growth in our network on both the commercial and retail side. We are changing our business model to provide our dealers with everything they require to serve our customers’ automotive needs better,” said Jim Caldwell, president and CEO of OK Tire Stores Inc, at the time of the announcement at the beginning of April. “Today’s announcement marks the beginning of a new OK Tire as Canada’s premier tire and auto service company.”
The distribution center expansion will add over 500,000 square feet to OK Tire’s network over all regions in Canada over the next three years. Construction will soon begin on the first new distribution center in central Canada. More information will be released in the coming months about the distribution center locations, OK Tire says.
“Our objective is to future-proof our business, which is why we are installing state-of-the-art distribution systems at our new facilities. We will be able to carry more products and service our retail locations with an expanded line of tires and automotive products,” said Michael Rutherford, the company’s chief operating officer.
The distribution center expansion is the first major initiative of OK Tire’s five-year growth plan and is the most significant expansion in the company’s 66-year history.
“We are committed to adding value and profitability to our OK Tire retail stores and the company as a whole,” Caldwell said. “As we go forward this will include looking at building our network through acquisitions that complement our existing network.”
