WASHINGTON, Mo. — Telle Tire & Auto has acquired Riechers Tire & Auto, a fourth-generation family business with two locations in Washington.
The name of the business will not change, according to Aaron Telle, president and CEO of Webster Groves, Mo.-based Telle Tire.
The sale price was not disclosed.
Matt Riechers, vice-president of Riechers Tire, said he has known Telle for more than 20 years, calling him a friend as well as a business advisor. He said he always respected the way he ran his business and treated his employees.
"Aaron is also a fourth-generation owner, and there are a lot of parallels between our families, our businesses and the way our businesses have progressed," Riechers said. "I've always been impressed with him. There's a reason why they are so successful."
Riechers said his family had been approached by buyers over the years and had always declined the offers. But he said over the past year he was "at a crossroads" while considering different offers to buy the business.
Riechers said he was discussing the offers with Telle to get his advice when Telle said, "Before you sell to someone else, please give me a chance."
"I think most business owners want to do the best for their employees and their customers. With Aaron, I know I am doing that. It's a matter of trust. I know he has their best interests in mind," he said.
Riechers is celebrating its 85th anniversary this year. It was founded by Fred and Anna Riechers, Matt Riechers' great-grandparents, in 1939 when they opened Riechers Service Station at South Point on Highway 100, just east of Washington.
Matt Riechers' parents purchased the business in 1977. The company, which specializes in tire and automotive repairs, has two locations — at 510 Madison Ave. and at 4710 South Point Road. The company has 30 employees.
With the acquisition of Riechers, Telle Tire now has 28 stores in the greater St. Louis area.
Aaron Telle said Riechers Tire was the first business he acquired that is older than his — Telle was founded in 1942. He said the similarities in business philosophy between the two companies and their approach to taking care of employees and customers is why it was an attractive fit.
"I'm also a fourth-generation business owner," Telle said. "And just like Matt, I've grown up in the business, changing tires and working behind the counter on weekends and during the summers in high school and college.
"Riechers is such an important and intertwined part of the Washington community. They earned that trust for so many decades by taking care of their customers and supporting the community. We are going to do the same thing and help and support the community wherever we can. They have a formula that's worked for decades. It's our formula too. There won't be a lot of changes. They have a great team," Telle said.
Telle said he is retaining all of the Riechers employees and honoring all existing Riechers repair warranties. Going forward, the repair guarantees will be extended to a three-year, 30,000-mile warranty.
Riechers said customers won't notice a change in the new owners, which is why selling to Telle made sense.
"Obviously I want to thank our customers for 85 years of business in Washington," Riechers said. "I've shed some tears over this decision and I am emotional talking about it right now. But our customers have been so important to our success. They still throw their keys over the counter and say 'take care of it.' They trust us. They trust our employees to take care of them. And we have. And Aaron will continue to do just that. Hopefully our customers will give them that shot. They won't be disappointed."
