EDMONTON, AlbertaCanadian tire marketing program administrator Integra Tire & Auto Centres Ltd. has reincorporated with two new Alberta-based partners in order to improve the group's purchasing power and provide better marketing resources.
Effective Oct. 15, Integra President and CEO David Cosco incorporated a new company called Integra Tire & Auto Centres Canada Ltd., with Brad Kirk of Kirk's Tire of Lethbridge, Alberta, and Allen Ambrosie of Trail Tire Distributors Ltd. of Edmonton as partners.
Mr. Cosco owns 50 percent of the new company, while Messrs. Kirk and Ambrosie share the other 50 percent, according to Integra. Financial terms were not disclosed.
The deal adds the resources of wholesale distributors Kirk's Tire and Trail Tire, Mr. Cosco said, while emphasizing that Messrs. Kirk and Ambrosiewho were original shareholders in the reborn Tirecraft Groupare investing as individuals.
Tri-Can Tire Distributors has been Integra's primary distributor since it was launched in 2009, Mr. Cosco said, and it will continue to be. American Tire Distributors Holdings Inc. acquired Tri-Can last year.
Having Kirk's Tire and Trail Tire as additional distribution assets will allow Integra to expand its product offerings and services on the commercial side, Mr. Cosco said, which is a change many Integra dealers have been requesting.
Corey Miller, president of Tirecraft Group, said in response to a query from Tire Business that the Integra business is in addition to Tirecraft. Both Kirk's Tire and Trail Tire are founding members of the reborn Tirecraft Group.
The (deal with Integra) puts both Integra and Tirecraft in a better competitive position for the future, he said.
Mr. Cosco, who turned 65 recently, is president, CEO and executive chairman of the new company, and Mr. Ambrosie is COO.
The new company will manage the Integra brand, which is present at 80 locations across Canada, Integra said. Integra's locations are predominantly in western Canadain Alberta, British Columbia, Manitoba and Saskatchwan.
This partnership provides our stores greater access to products and significantly strengthens our ability to serve both our retail and commercial customers, Mr. Cosco said.
Mr. Cosco said separately he retains full ownership of six Integra locations in and around Edmonton.
Mr. Ambrosie noted that Integra has a strong market presence and we look forward to expanding its brand footprint. Mr. Kirk said that linking the commercial Integra brand with our existing tire locations will provide our commercial customers a larger servicing network.
The new company will enhance the Integra Tire brand offering, Integra said, allowing it to deliver a better customer experience. This partnership will improve Integra Tire's purchasing power and give the company greater access to marketing resources.