BLOOMINGDALE, Ill. (July 1, 2004) — Bridgestone/Firestone (BFS) is buying David Early Tire Co. and will convert the chain's 18 retail stores in Utah to Firestone Tire & Service Centers by this fall.
With the deal, carried out by BFS Retail & Commercial Operations L.L.C., BFS said it will have 24 Firestone Tire stores in northern Utah. Financial terms of the deal were not disclosed. BFS will lease the stores from Early Holdings L.L.C., a real estate busines owned by Early Tire principal David Early Sr.
David Early Tire was started in 1973 by Mr. Early with a single store in Salt Lake City. Over the next three decades, the company grew to 18 stores throughout northern Utah, with the last store opening in 2002.
Mr. Early, 74, briefly considered retirement in the mid-1990, but instead teamed up with BFS in 1996 to create a “successful partnership,” according to the Nashville, Tenn.-based tire maker.
Mr. Early is leaving the tire business to work with his son, David Early Jr., on their family-owned and -operated real estate development business, BFS said.
BFS Retail & Commercial operates more than 2,200 consumer and commercial tire and vehicle service locations across the U.S. and Canada as well as the company's own credit card operations. The store channels include Firestone Tire & Service Centers, Tires Plus, Expert Tire, Commercial & Farm, GCR Truck Tire Centers and Mark Morris.