Three months after selling 27 Tire Centers stores to an independent tire dealer in the southeastern U.S. Michelin North America is planning to sell more of its TCi locations..
The buyer is T&W Tire, based in Oklahoma City. Michelin did not specify how many locations are included in the agreement. T&W Tire has 15 combination commercial-retail outlets and two retread plants in Oklahoma and Texas. The company is part of the Michelin Commercial Service Network and is a Michelin Retread Technologies franchisee.
In response to Modern Tire Dealer’s questions, Michelin provided the following statement:
“Tire Centers, a wholly owned subsidiary of Michelin North America, has reached an agreement in principle to sell certain commercial locations in Kansas, Louisiana, Missouri, and Texas to T&W Tire of Oklahoma City. As part of its normal operations, TCi is constantly evaluating and evolving its footprint to better serve its customers.”
Snider Tire purchase of 27 commercial locations, including four retread plants, from Michelin’s TCi subsidiary, was finalized on June 30, 2017. Financial details were not disclosed.
Snider Tire, which goes to market as Snider Fleet Solutions, has grown from a single tire store opened in 1976 to 81 commercial tire and mechanical services locations today. The company is based in Greensboro, N.C. The acquisition extends Snider Fleet Solution’s coverage into Alabama, Mississippi, Virginia, and Louisiana, while also adding additional locations in Florida, Texas, and Tennessee.
This article originally appeared in HDT sister publication Modern Tire Dealer.