LWG CEO Judd Kyle Shader said the firm's "future growth of infilling markets must be consistent with a healthy mixture of greenfield growth. I expect LWG to acquire more pad sites this year in key markets."
LWG and Monteverde formed a partnership in 2019 that resulted in shared ownership of eight former NTB Tires & Service Center outlets in Texas — six in San Antonio and two in Corpus Christi — that Monteverde Group had converted to Big O stores.
The new location will be the partnership's ninth Big O Tires outlet in Texas. In addition, the land acquisition is the 39th transaction in the last two years completed by LWG's real estate division.
This property was purchased from Potranco Acreage Investors Ltd. Terms of the deal were not disclosed.
Mr. Shader founded Greenwood Village, Colo.-based LWG in 2009.
The company operates 113 automotive retail locations, comprising Big O-, Midas- and SpeeDee Oil-branded stores, in 18 states.
Monteverde Group has been part of the Big O Tires organization since 2004 and today operates 16 stores in California to go with the eight in Texas. CEO Chris Monteverde was named Franchisee of the Year by Big O Tires in 2017, as well as Franchisee of the Year by the International Franchise Association in 2018.