Rice Tire Acquires Central Tire

Rice Tire Acquires Central Tire

Rice Tire Co., located in Frederick, Maryland, has closed on a deal to acquire Central Tire, a fourth-generation tire business location in Verona, Virginia. 

Rice Tire logo

Rice Tire Co., located in Frederick, Maryland, has closed on a deal to acquire Central Tire, a fourth-generation tire business location in Verona, Virginia.

The acquisition brings the number of stores under the Rice Tire name to 11 and also adds another Goodyear retread shop to the mix for Rice Tire. Chris Rice, president of Rice Tire, said the retread shop will help keep up the company’s retread capacity. Central Tire’s inventory and assets will transfer to Rice Tire and it will also change its name.

Central Tire has been in the family of Terry Westhafer, its president, and his brother Tommy, its vice president, for 74 years. The company was started by their father, Guy, in 1954. To read more about the company’s history, click here.

Also family-owned, Rice Tire has been around for 63 years. Rice said he and Terry Westhafer have been longtime friends. Westhafer did not have a succession plan for the business. According to the News Leader, Rice Tire has actually come to Central Tire with an offer two other times since the early 2000s — on the third time the Westhafers accepted.

 

You May Also Like

Nokian Tyres releases 2023 sustainability report

Highlights of the company’s sustainability actions in 2023 include a commitment to achieve science-based net-zero emissions by 2050.

Nokian-Tyres-sustainability-report

Nokian Tyres recently published its Sustainability Report 2023. According to the report, Nokian Tyres achieved several external sustainability ratings, such as inclusion in the Dow Jones Sustainability Europe Index, platinum medal from EcoVadis, an AAA rating from MSCI and a leadership-level score of A- on the CDP Climate report.

Giti Tire announces winners of STEAM competition

New this year, the winning teams from each division will progress to compete out of state.

Giti-STEAM-Winners
Nexen Tire to be the official tire partner of the San Diego Padres

Nexen Tire will be featured on a variety of marketing assets, including billboards and in-ballpark branding at Petco Park.

Nexen-Tire-Padres
WGH to recall up to 520,000 Terrain Attack, Terrain Pro winter tires

The tires are labeled as snow tires, but do not have sufficient traction to perform in all snow weather conditions, according to the National Highway Traffic Safety Administration.

Recall
K&R Tire Center to host grand opening of new Flint, MI location

The company said it will have representatives from Goodyear, local customers and dealership representatives on hand to celebrate.

KR-Tire-center

Other Posts

Bridgestone Retail Operations rolls out brand refresh for Tires Plus, Hibdon Tires Plus

Updates to the logo include a single-color tire mark; a logo palette comprised of Tires Plus yellow, black and red; and refined typefaces.

Tires-Plus-new-branding
Yokohama’s Advan Sport V105 tires will be OE for Subaru Impreza in Europe, Latin America

Yokohama said the tire enhances the car’s handling stability and comfort while reducing rolling resistance.

Yokohama-Advan-Sport-V105
OTAA to host free training for members in Akron, OH

The association said these workshops are designed to enhance technician’s technical expertise and keep them up-to-date with the latest industry advancements.

Stock-technician-training-1400
Hankook Tire debuts Great Catch Rebate through July 7

Drivers who purchase at least four tires from eligible lines will qualify for savings of up to $120.

2024-Great-Catch-Rebate-1400