WILKES-BARRE, Pa. — McCarthy Tire Service has expanded again, acquiring Piedmont Truck Tires Inc., a Greensboro, N.C.-based dealership with 10 service outlets in North Carolina, South Carolina and Tennessee and a retread plant in North Carolina.
The company will continue to operate under the Piedmont Truck Tires name with Piedmont Tire President Dan Rice continuing to oversee operations, McCarthy Tire said. Financial terms were not disclosed.
The deal expands McCarthy Tire's market coverage to 75 commercial service locations and 10 retread plants in nine states along the Eastern Seaboard. The acquisition likely will solidify McCarthy Tire's position as the fifth largest commercial tire dealership in the U.S.
"Piedmont Truck Tires is known for quality products and superb customer service. We are proud to be affiliated with Dan and his team, and we welcome them into the McCarthy Tire family," McCarthy Tire President John McCarthy Jr. said.
"My personal goal has always been to make sure that the employees and customers of Piedmont Truck Tires would be taken care of when (vice president) Mitch Glover and I eventually decided to exit the tire business," Rice added.
"McCarthy Tire has given us a way to exit the business knowing that our employees and customers will be taken care of properly. I want to thank all of our employees, customers, and vendors for their loyalty, and I hope they will continue into the future with us and with McCarthy Tire."
This deal comes a week after McCarthy Tire's acquisition of LS Truck Tire Repair Inc., a Philadelphia-based dealership with five commercial servicing locations in the greater Philadelphia market, including two in New Jersey.