Southern Tire Mart LLC has acquired Friend Tire Co. from Yokohama Tire Corp. Terms of the deal have not been disclosed.
Friend Tire was a wholly owned subsidiary of Yokohama.
The transaction gives Southern Tire Mart nine additional distribution centers that Friend Tire had owned and operated.
They are located in Albuquerque, N.M.; Memphis, Tenn.; Belton, Texas; Davenport, Fla.; Monett, Mo.; St. Charles, Mo.; Shreveport, La.; Oklahoma City, Okla.; and Salt Lake City, Utah.
The locations are now operating as Southern Tire Mart outlets, effective April 3.
"This agreement was finalized on April 1, 2023," Yokohama said in a statement issued today. "Sales of the Yokohama brand through (Friend Tire) have been transferred to" Southern Tire Mart "and include all the rights and access that were afforded" to Friend Tire.
“Yokohama and Southern Tire Mart have enjoyed a long-term relationship in the U.S. market,” says Jeff Barna, president and CEO of Yokohama Tire Corp.
“We are proud to have completed this agreement with a trusted partner and one that is certain to improve upon Friend Tire’s legacy.”
“Yokohama has been a long-standing, valued partner,” says Southern Tire Mart Co-owner Jim Duff. “We’ve known about Friend Tire’s solid reputation for a long time and this agreement will definitely help expand our strategic footprint.”
Friend Tire was established in 1956 in Monett, Mo.
Based in Columbia, Miss., Southern Tire Mart is the largest independent commercial tire dealership in the U.S., according to MTD research.
