CLEVELAND, N.C. (June 26, 2013) — Ragan Group, the holding company for OTR retreader RDH Tire & Tread Co., has acquired Irmo, S.C.-based Miller Bros. Giant Tire Inc., an OTR tire distributor with eight service locations in the Carolinas, Florida and Georgia.
Cleveland-based Ragan Group cited increasing competition in the OTR industry sector as the impetus for the two companies to evaluate new opportunities such as this combination.
The transaction does not involve Miller Brothers Giant Tire Service Inc.; the Tampa, Fla.-based OTR tire distributor that previously was part of Miller Bros. Giant Tire but which was spun off into a separate company last October. It operates five sales and service locations throughout Florida.
Financial details were not disclosed.
The companies, which have worked together for more than 27 years, said they felt this acquisition would enhance their abilities to continue to offer competitive products and services to the industry.
Ragan Group assumed financial and management responsibilities of Miller Brothers on June 20, with Ty Smith, general manager of Miller Brothers the past five years, leading the distributor's new management team.
Prior to joining Miller Brothers, Mr. Smith was with RDH Tire for 14 years and Brad Ragan Inc. for six years, according to his LinkedIn page.
The newly combined business, co-owned by Messrs. Ragan and Smith and Scott Ragan, operates service locations in Concord, Graham and Marion, N.C., Duncan, Cayce and North Charleston, S.C., Palmetto, Ga., and Jacksonville, Fla. Miller Bros. lists 100 employees on its website.
Besides RDH Tire in Cleveland—which is owned jointly by Brad Ragan Jr. of Ragan Group and Homer Huskins—Ragan Group owns a share of B.R. Retreading Inc. in Glasgow, Ky. The combined outputs of RDH and B.R. Retreading make Ragan Group the largest OTR retreader in North America.
Miller Brothers Giant Tire co-founder Rick Miller will continue to work with the newly organized company.
Miller Bros. Giant Tire Service in Florida was sold to Rick and Y.M. Miller's business last October. Ragan Group/MBGT maintains a "strong relationship" with that company, Mr. Smith said.