GREENSBORO, N.C. — Snider Fleet Solutions, one of North America's largest commercial tire dealerships and retread producers, has acquired 27 commercial tire locations, including four retread plants, from Michelin North America's TCi Tire Centers L.L.C. subsidiary.
The deal closed June 30. No purchase price was disclosed.
The acquisition increases Snider's store network to 81 locations and extends the dealership's commercial tire coverage into Alabama, Mississippi, Virginia and Louisiana, while also adding locations in Florida and Tennessee, Marty Herndon, executive vice president and chief operations officer of Snider Fleet Solutions, said in an interview with Tire Business.
This move also expands Snider's distribution ability to 75 percent of the continental United States, the company said.
“We feel like to be a significant player in the commercial tire industry and truck tire maintenance arena, we're going to need 100-plus locations and $1 billion in sales, and this platform will allow us to make that a reality,” Mr. Herndon said of the acquisition.
Along with the newly acquired locations, Snider also is in the process of opening four additional commercial locations that should be in operation by year end, he added.
The four retread plants purchased by Snider use the Michelin Retread Technologies (MRT) process. They are located in Jackson, Miss.; Birmingham, Ala.; Nashville, Tenn.; and Jacksonville, Fla. All are housed in commercial locations acquired by Snider.
Together they will boost Snider's truck tire retreading capacity to about 3,500 units a day, Mr. Herndon said.