BOUND BROOK, N.J. (Nov. 1, 20001)—Somerset Tire Service Inc. (STS), North America's 11th largest independent tire dealerships in terms of retail sales, has purchased Ramapo Discount Tire Centers, a Mahwah, N.J.-based chain of six retail tire and auto service centers and one wholesale location.
The acquisition brings STS' total to 83 retail stores throughout New York, New Jersey and Pennsylvania and seven wholesale locations in those same states as well as Massachusetts.
STS President Bill Caulin said the acquisition will allow the company to continue its ambitious growth strategy in the tri-state area.
He characterized Ramapo Discount Tire as “a perfect fit, with seven locations complementing our existing stores in a growing market.”
Prior to the acquisition, the company was forecasting sales of $110 million in 2001, of which approximately 75 percent was expected to be derived from retail and 25 percent from wholesale operations.