Love's agrees to purchase Speedco from Bridgestone

OKLAHOMA CITY — Love's Travel Stops & Country Stores Inc. continues to add to its portfolio, reaching an agreement to purchase Speedco Inc., a Bridgestone Americas Inc. commercial tire and service lube business.

Once the acquisition — which is subject to regulatory approvals and other closing conditions — is complete, Love's will add 52 trucking service and lube locations to its network, increasing the number of Love's-operated tire service and lube facilities to 323.

The transaction price was not disclosed.

"The Speedco organization shares our commitment to providing reliable, high-quality and convenient services to truck drivers and fleets across the country," said Tom Love, founder and executive chairman for Love's. "The addition of the Speedco locations to Love's is an important step in continuing to provide the highest standard of service to the trucking industry."

Love's recently added oil change, lube and light mechanical services to its offerings at its truck tire care service locations, which can be found at most of its larger travel stops across the country.

Speedco has served the trucking industry for more than 25 years, and has operated as a subsidiary of Bridgestone Americas since 2007.

It operates lube services at highway locations in 26 states across the U.S., with stores from as far east as Harrisburg, Pa., to as far west as Spokane, Wash. The firm has seven locations in Texas, five in Ohio and four in Georgia.

"Speedco is a strong commercial retail service business, and Love's is the right partner to build on Speedco's success and ensure a great future for Speedco employees," said Bill Thompson, chief operating officer of Bridgestone Americas.

"We are excited to continue our relationship with Love's as a valued partner in the strong Bridgestone distribution network."

Prior to closing, Speedco and Love's will continue to operate as separate companies.

Love's, founded in 1964, recently became a retreader, opening four Oliver Rubber-affiliated retread plants throughout the U.S. Each is capable of producing up to 400 units a day.