GREENWOOD VILLAGE, Colo. — Leeds West Groups (LWG) has acquired six Big O Tires locations in New Mexico from a long-time Big O franchise group, extending its reach into New Mexico and expanding its network of Big O and Midas stores to 102.
The acquisition builds LWG's Big O Tires' network to 23 locations in three states — Colorado, New Mexico and Texas. Financial terms were not disclosed.
"Entering into the New Mexico market was a no brainer for LWG," Leeds West CEO Judd Kyle Shader said. "It allows us to build out the states surrounding Colorado continuing to create consolidation and large expansion opportunities for us along the I-25 corridor and the Mid-West region."
Mr. Shader also said LWG is committed to shifting its "acquisition focus to larger-scale growth opportunities" and said this deal aligns with the firm's growth objectives and operational strengths under Chief Operating Officer Derek Wessels and James Gould, Big O Division vice president, who will oversee the new stores.
"We look forward to filling in the Colorado to New Mexico corridor, along with our expected fast paced growth in the Midwest region," Mr. Shader added.
The six stores are in the Albuquerque, N.M., area. In all, there are 16 Big O Tires stores in New Mexico.
LWG took over the stores from BBAC Group, a franchise group consisting of Keith Blake, Michael Pryor, Mitch Beranek and Scott Koldenhoven that also operates 11 Big O stores in Colorado.
Mr. Koldenhoven is a second-generation Big O Tires owner and winner of the franchise group's Point of Light award in 2015 and Big O/IFA franchisee of the year in 2014.
This is LWG's second transaction the past couple of months involving Big O stores. In late July LWG agreed to go into partnership with Big O franchisee Monteverde Group to co-own eight former NTB Tires & Service Center outlets in Texas that Monteverde had converted to Big O stores earlier this year.
This latest acquisition boosts LWG's employment roster to 950, the Greenwood Village-based company said.