AKRON — Mergers and acquisitions, which have become integral to any year's tire industry news recap for the past decade or more, went on steroids this past year, posting an unprecedented level of activity throughout 2021.
Over the past 12 months, Tire Business has tracked 50-plus separate transactions covering nearly 470 retail and/or commercial points of sale that changed hands.
The largest single deal overall was Goodyear's $2.5 billion takeover of Cooper Tire & Rubber Co., a transaction that pairs the No. 3 and 13 global tire makers and boosts Goodyear's annual sales by roughly $2.8 billion.
In the distribution sector, the largest single deals were Percheron Capital's purchase of American Tire Depot (101 stores) and Sun Auto Tire's acquisition of Plaza Tire (70 stores). Both were announced in late November.
These two entities — both controlled by private equity firms — were the most active in terms of transactions and points-of-sale acquired.
Percheron Capital — an unknown entity in the sector until late October — assembled a company with 149 outlets in three states via five transactions.
Sun Tire Auto, under the ownership of Leonard Green & Partners, a Los Angeles-based private equity group, has grown to over 350 points of sale via 13 separate transactions.
Monro Inc., whose basic business model is growth by acquisition, added 61 points of sale this year in six separate deals, the largest of which was its purchase of Mountain View Tire in March.