Big O franchisee Monteverde acquires 8 Texas NTB stores from TBC

SAN ANTONIO, Texas — Big O Tires franchisee Chris Monteverde has acquired eight former NTB Tire & Service Center stores in Texas from TBC Corp. and is converting them to Big O signage.

Mr. Monteverde, a Big O Tires franchisee since 2004, also owns and operates 19 Big O Tires locations in California. The deal covers six NTB stores in the San Antonio metro area and two in the Corpus Christi market, TBC said.

Financial terms of the deal were not disclosed. TBC continues to operate 100 NTB stores in Texas, primarily in the Dallas and Houston metro markets.

"The opportunity to expand our portfolio within the Big O brand and have a chance to do business in the great state of Texas was one that we didn't think twice about," Mr. Monteverde said. "We're excited about the future and eager to continue exceeding customer expectations in California as we make a name for ourselves in Texas."

Mr. Monteverde was honored twice last year by Big O Tires franchisor TBC and the International Franchise Association (IFA) as a Big O Tires franchisee of the year.

John Kairys, vice president and general manager, Big O Tires, called Mr. Monteverde an "exceptional operator" and said TBC is "fortunate" to have him and his team representing the Big O brand.

"We are excited about the expansion and the opportunity to serve the customers in the San Antonio and Corpus Christi markets while living up to our ultimate goal to be the team you trust," he said.

Brant Wilson, president and chief operating officer of TBC's Franchise Group, said TBC's support of its franchise entities provides "unique opportunities, such as this one, where we can share a new business venture with franchisees that they may not otherwise have access to if they were not affiliated with the organization."

The deal expands the Big O Tires franchise network to 455 independently owned and operated locations in 25 states. Texas is now the fifth state where TBC has both company-owned retail stores and Big O franchised dealers.

TBC's other major franchise brand, Midas International, reports having 60 Midas locations in Texas, including a dozen in the San Antonio area.

"As an organization with more than 3,200 retail locations, both company-owned and franchise, it's imperative that we consider our entire portfolio when evaluating opportunities," TBC President and CEO Erik Olsen said.

"We will now have the opportunity to serve consumers in the state of Texas through three retail great brands — Big O Tires, Midas and NTB — at nearly 170 locations."

This is the second major shift in branding by TBC in the past year or so. In November 2017 the company ceded control of 44 company-owned NTB locations in Iowa, Kansas, Minnesota and Missouri to Western Automotive Ventures Inc., an enterprise owned by Big O Tires franchisee Mark Rhee, who also owns and operates 11 Big O Tires locations in Nevada.