BRAMPTON, Ontario — Sailun Tire Americas President Ron Dolan described Mavis Tire Express Services' acquisition of 595 retail locations from the TBC Corp. in one word, repeated twice: Win-Win.
Dolan said the industry-rattling transaction, which closed in early June, is good for both business entities.
In the deal, equity-group-backed Mavis acquired 595 TBC retail stores operating under the NTB Tire & Service Centers and Tire Kingdom Centers brands. Financial terms of the transaction, disclosed on May 22, were not released.
The TBC retail holdings are estimated to generate up to $2 billion in revenue annually.
"We believe the two companies are going to be able to do some things together and be interesting synergies going forward," Dolan said. "As far as Sailun is concerned, we don't think there is any negative impact of that sale to us."