EL PASO, Texas — Commercial tire dealership/retreader Border Tire has acquired Canyon Tire sales, a Corona, Calif.-based dealership with five commercial outlets and a retread plant in southern California.
The deal, which closed Dec. 1, doubles Border Tire's presence in California and adds up to $45 million in potential annual sales to it ledger. Canyon Tire is a 40-year-old dealership that's part of the Michelin Commercial Service Network Dealer sales and MRT retreading networks.
"It has always been our goal to grow and make strategic acquisitions that expand our service footprint to our loyal customer base," Border Tire Vice President David Shipp said.
"The synergy of the two companies coming together will greatly enhance our full-service capabilities. Border Tire will become the largest servicing MRT dealer in the state of California and one of the largest commercial dealers in Southern California."
Financial terms were not disclosed.
The deal to buy Canyon Tire comes two years after Border Tire's acquisition of five TCi Tire Centers commercial service locations and one MRT retread plant in California from Michelin North America Inc.