MEMPHIS, Tenn. (July 31, 2013) — Mark Welden, principal owner of wholesaler Greer Tire in Milwaukee, has become a stockholder in Del-Nat Tire Corp.
Greer Tire began in 1983 when, according to Del-Nat, Pat Greer began selling tires out of the basement of his home. Eventually the business expanded into an 11,500-squ.-ft. warehouse in Milwaukee. Mr. Welden, a longtime friend of Mr. Greer, bought the company from him when he retired in 2010.
With subsequent expansions, Greer Tire's warehouse now measures 20,000 square feet. About 90 percent of the company's business is wholesale.
Mr. Welden becomes Del-Nat's 81st stockholder. The Memphis-based company, founded in 1989, operates as a cooperative with a nationwide network of dealers and distributors.
"I see exceptional value in the Del-Nat program," Mr. Welden said in a Del-Nat press release. "It provides us with a different price point and its catalog of brands and products will allow Greer Tire to enter additional markets that our company does not currently service.
"We believe we can utilize Del-Nat's Direct Distributor Program to gain additional exposure in Wisconsin and the western half of Michigan's Upper Peninsula."
Randy Gaetz, Del-Nat's vice president of sales and marketing, said the "continued growth of our stockholder base, coupled with a very solid financial picture, have given Del-Nat strong momentum going into the second half of the calendar year. We are seeing that more and more dealers are looking to join Del-Nat in order to maintain their independence. Del-Nat is committed to keeping the independent tire dealer independent."
Del-Nat said it has annual sales of more than $200 million. It offers stockholders protected territories under one or more of the Del-Nat brand names including Delta and National passenger, light-truck and SUV tires, Chaparral light truck tire lines, and Akuret commercial tires for farm, OTR, truck and trailer applications.