Terry’s Tire Town, best known as a major regional tire distributor, has sold off its handful of retail tire stores.
The Alliance, Ohio-based company sold its six retail stores to Monro Muffler Brake Inc. for an undisclosed amount. Monro plans to convert the stores to its Mr. Tire badge over the next few weeks.
The independent dealer will now concentrate on its core wholesale business. Terry’s Tire Town has distribution centers in Alliance, as well as Baltimore; Richmond, Va.; Brockton, Mass.; Westbrook, Maine, and Nashua, N.H. It also operates three commercial centers and a retread plant. Many of those locations came via acquisition.
In November 2010, Terry’s Tire Town partnered with Talisman Capital Partners, headed by Cardinal Health founder Bob Walter, setting “the stage for transformational growth as a leading national tire distributor,” according to the company website.
Three months later, in February 2011, Terry’s Tire Town bought out wholesaler Summit Tire of New England, gaining the warehouses in Brockton, Nashua and Westbrook.
Terry’s Tire Town was founded in 1972 when Terry Tolerton opened his first retail store in Alliance. In 1982, the company expanded into wholesale distribution and began servicing dealers in Akron, Cleveland and Youngstown, Ohio. In 1990, son and current CEO Will Tollerton graduated from college and joined the company.
