1000 Employees Across North Carolina and Virginia Impacted by Historic Move

Colony Tire and Atlantic Tire Distributors announced their transition to 100% employee ownership through an Employee Stock Ownership Plan (ESOP), securing the future of more than 1,000 employees across North Carolina and Virginia.

This milestone ensures that the company’s legacy of customer service and community investment will continue for generations to come. By adopting an ESOP structure, Colony Tire and Atlantic Tire Distributors have chosen to reward the dedication of their employees while keeping jobs, profits, and decision-making rooted in the local communities they serve.

The decision to pursue employee ownership began over a year ago with Colony Tire’s late founder, Charlie Creighton, who was deeply committed to ensuring the company’s independence and culture. Through the ESOP, employees are allocated shares of Colony Tire stock, aligning their contributions directly with the company’s long-term success.

“This isn’t just a business transition — it’s about investing in the people who built our company,” said Scott Creighton, President of Colony Tire. “Our employees are now our owners, and that means every tire we sell and every service we provide is backed by the commitment of a true stakeholder.”

“While this is an exciting new chapter, it will not change the day-to-day operations of the company or how we work with our valued partners,” said Creighton. “We remain an independent company with no changes to our management or operations teams. Our commitment to growth, service, and community remains stronger than ever.”

Leadership emphasized that the transition reflects a deliberate choice not to sell to competitors or private equity firms, preserving the culture, values, and customer focus that have defined Colony Tire and Atlantic Tire Distributors for nearly five decades.

“One of the most disappointing things about Charlie passing away is that he did not get to see this day,” said Creighton. “He would be so proud to know that ownership has been transferred to the dedicated associates who have built this company’s success for the past 49 years. This ESOP will help protect his vision and legacy for generations to come.”

As Colony Tire and Atlantic Tire Distributors enter this new era of employee ownership, leadership extends gratitude to associates, customers, and vendors for their support and partnership.

About Colony Tire and Atlantic Tire Distributors

Founded in 1976, Colony Tire and Atlantic Tire Distributors have grown into trusted providers of tires, automotive services, and wholesale distribution across the Southeast. With nearly 50 years of history, and 1000 employees, the companies are dedicated to quality service, community involvement, and now—employee ownership.

Tagged: ESOP

Colony Tire and Atlantic Tire Distributors Transition to 100% Employee Ownership Through ESOP