RIVIERA BEACH, Fla. (Jan. 29, 2001)—Tire Kingdom Inc. has purchased Paul Lewis Discount Tire and Auto Service, a 10-store retail chain in the Jacksonville, Fla., area.
The transaction brings Tire Kingdom´s total to 173 outlets, employing more than 2,000 people in four southeastern states. The deal also expands and ``solidifies its market dominance in the Jacksonville area,´´ Riviera Beach-based Tire Kingdom said in a Jan. 24 announcement.
Established in 1954, Paul Lewis Discount Tire, is one of the oldest tire retailers in northern Florida, with annual retail sales of more than $8 million. It was owned and operated by the Lewis family for 47 years, Tire Kingdom said.
The acquisition was the third in recent months for TBC Corp.´s Riviera Beach-based subsidiary. In December 2000, Tire Kingdom purchased two Wildcat Tire stores in southern Georgia and a pair of B & C Tire outlets in northern Florida. Shortly thereafter, it acquired Louisiana´s Lucas Tire, adding 10 stores in the greater New Orleans area to its total.
Tire Kingdom President and CEO Orland Wolford said the company will continue evaluating opportunities for growth and for ``extending our presence in many new geographical areas.´´