MEMPHIS, Tenn.—Mark Welden, principal owner of wholesaler Greer Tire in Milwaukee, recently became 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.
Mr. Welden said the Del-Nat program “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,” including 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.
Del-Nat said it has annual sales of more than $200 million.