Southern Tire Mart announced it has reached an agreement to purchase 46 GCR Tires & Service (GCR) stores and six GCR retread plants from Bridgestone Americas. The transaction is subject to regulatory approval.
According to a joint press release, Southern Tire Mart’s purchase will allow the company to serve more customers in markets where they currently operate, as well as expand its footprint to include new geographic regions.
Founded in 1973, Southern Tire Mart is a leading provider of commercial truck tires, off-the-road tires and Bandag retreads. The company is based in Columbia, Mississippi, and currently operates more than 90 commercial truck tire centers in 10 states.
“As the largest commercial tire dealer in the U.S., our mission is to provide customers with best-in-class tires and service. To achieve this, we need a strong network of stores that are staffed by experts in the tire and service industry,” said Jim and Tom Duff of Southern Tire Mart. “The purchase of these GCR locations allows us to expand our footprint in the Southern U.S. while also bringing more knowledge and expertise to our team.”
“At Bridgestone, we continually evaluate and evolve our distribution strategies to ensure we are meeting the needs of fleet customers across our company-owned GCR stores and the independent dealer channel,” said Scott Damon, president, Commercial Group, U.S. and Canada, Bridgestone Americas Tire Operations. “We believe partnering with Southern Tire Mart allows us to further strengthen our commercial tire distribution network and position the growth of our brands and fleet solutions.”
The GCR stores and retread plants being purchased by Southern Tire Mart are located in Alabama, Arkansas, Arizona, the Florida Panhandle, Georgia, Louisiana, Mississippi, New Mexico, Nevada, Tennessee, Texas, Utah, and Virginia. These locations currently serve customers in the commercial trucking, off-the-road and agriculture industries.
Southern Tire Mart and the GCR stores included in the sale will conduct business separately until the transaction closes, which is expected to occur in the next 30 days. The stores will be transitioned from GCR to Southern Tire Mart following closing. GCR remains focused on meeting the needs of fleet customers and has a strong plan in place to ensure a seamless transition.