Cover of The Book 2021
As we began to plan this year's comprehensive edition we call The Book, which published on Dec. 22, the question arose: What shall we focus on in the first part of this edition? What would you, our readers, care about most?
The answer is contained in two letters and a special character: M&A.
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In a year where Goodyear consummated a deal to purchase Cooper Tire & Rubber, it also included new ownership for industry stalwarts such as American Tire Depot, Mountain View Tire, Plaza Tire & Service, Tire Rack and Treadmaxx. Mergers and acquisitions dominated the headlines.
Heck, even two aggressive industry entities got new ownership in 2021: Sun Auto Tire (previously known as GB Automotive) and Mavis Tire Express are now controlled by private-equity groups Leonard Green & Partners and BayPine L.P., respectively.
So it was an easy decision to highlight all of the industry M&A activity.
It should not be overlooked that a year in which COVID-19 continued its hold on the world, the tire industry continued to prove it is a sound, profitable investment.
Expect those groups that have shown the ability to grow to stay the course in 2022. That includes Monro Inc., Sun Auto and Leeds West Groups, all of which are among the top 10 dealerships in North America already.
It will be interesting to follow two companies with similar names but different business models, Discount Tire and Tire Discounters, as they approach the new year.
Discount Tire, buoyed by its stunning acquisition of Tire Rack Inc. late in the year, will continue to flex its muscles as the No. 2 tire retailer in the U.S., leveraging Tire Rack and its position as the nation's No. 1 online tire retailer and tire reviewer, while also evaluating the potential use of the Robotire robotic tire-changing system.
Tire Discounters, meanwhile, is diving headfirst into franchising along with selective acquisitions to complement its aggressive growth strategy throughout the Midwest and Mid-South.
While we reflect on the prodigious amount of M&A activity over the last 12 months, let's not forget the people who continue to drive the industry forward.
First, we profiled women finding success in the retail tire industry. Each woman has a unique story to tell — one is a fourth generation shop owner, another worked her way up from tech to manager. Their stories are an inspiration and hopefully will inspire more women to pursue a career in the industry.
And then we look at two men, both relative newcomers to the industry, and both with inspirational stories.
Michael Vue returned to work at Sandy Blvd Point S in Portland, Ore., less than three months after receiving a kidney transplant. Since being profiled in our pages earlier this year, Mr. Vue has been promoted to service adviser at the dealership.
Ron Katz, this year's recipient of the Tire Business Tire Dealer Humanitarian Medal, epitomizes all that is good with business leaders in general and tire dealers in particular. He not only is working tirelessly to make his three locations profitable, but also making his community a better place.
And let's tip our caps to two well-known industry legends who will bow out of the industry in various capacities.
Roy Littlefield III, retiring as CEO of the Tire Industry Association, has left a legacy that won't be forgotten.
And our own columnist, Peggy Fisher, has decided to silence her keyboard after two decades of writing for the commercial tire sector. A job well done for both.
On behalf of the team at Tire Business, we thank you for your support and wish you success into 2022 and beyond.
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Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].