COLUMBIA, S.C.(June 12, 2000)—Snider Tire Inc. in Greensboro, N.C., plans to purchase Cate-McLaurin Co. Inc. in Columbia, S.C., for an undisclosed sum. The transaction is expected to close on July 1 according to Charlie Cate, co-owner of Cate-McLaurin with his brother, Billy.
Snider Tire—with 360 employees at 12 commercial tire centers and seven retread plants in six states—racked up sales of $66 million in 1999. The firm produces about 900 Bandag medium truck retreads per day and was ranked number nine in Tire Business´latest commercial dealer rankings.
Cate-McLaurin has 82 employees at its only location and had sales of over $13 million in 1999. The dealership will retain its name, 61-year-old Mr. Cate said, and he and his brother, 56, will continue to operate the dealership as employees of Snider Tire once the purchase is completed.