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American Tire Distributors Inc., Charlotte, NC, has agreed to acquire Terry’s Tire Town Holdings Inc., Alliance, OH. The acquisition is expected to close in late March or early April.
Facilitated by a 2010 recapitalization led by an investor group organized by Talisman Capital Partners, Terry’s expanded into the mid-Atlantic, Metro New York, New Jersey and New England via greenfield openings and the acquisitions of Summit Tire and Englewood Tire Wholesale in 2011.
Terry’s exited the retail business completely by selling all seven of its retail stores in October 2011. Terry’s Tire Town currently operates 10 distribution centers as well as a commercial tire operation.
Although ATD is a replacement tire and wheel distributor, they have only recently opened in the New Jersey, Long Island and New England markets via greenfield openings over the past two years. By combining with Terry’s Tire Town, ATD will enhance its ability to service tire and automotive service retailers in these U.S. markets, according to a news release.