MOBILE, Ala. (Nov. 28, 2006) — A Boca Raton, Fla.-based private investment firm has acquired Big 10 Tire Stores Inc., the seventh largest independent tire retail chain in the U.S. with 101 stores, for an undisclosed sum.
The deal with Sun Capital Partners Inc., according to Big 10 President and CEO Don Kennemer, will inject financial resources and retail experience to Big 10's drive for “further penetration of its existing retail footprint” in the southeastern U.S.
Founded in 1954 by the Wilson family of Alabama—represented today by Jim Wilson & Associates Inc., a Montgomery, Ala., commercial real estate venture—Big 10 Tires operates 35 stores in Alabama, 34 in Florida and 32 in Georgia.
The dealership sells multiple types and brands of tires and provides a range of automotive maintenance and supply services including tires, oil changes and battery and brake repair. Among the tire brands sold are Bridgestone, Firestone, Michelin, BFGoodrich, Uniroyal and Kelly, according to the firm's Web site.
M. Steven Liff, managing director for Sun Capital, said, “Big 10…continues to excel through its commitment to quality, service and overall customer satisfaction. We look forward to working with Don Kennemer, Big 10's management team, and our franchisees to position the chain for future growth.”
Sun Capital describes itself as a private investment firm specializing in leveraged buyouts and investments in market-leading companies. The firm has invested in and managed more than 135 companies worldwide with combined sales in excess of $30 billion since its inception in 1995. Sun Capital also has offices in Los Angeles, New York, London and Shenzhen, China.