Mavis Tire Express Services Corp. has completed its purchase of 595 retail tire stores from TBC Corp.
TBC announced it had completed the divestiture of 392 NTB Tire and Service Centers and 203 Tire Kingdom Service Centers to Mavis on June 1.
Financial terms of the agreement haven't been disclosed, but as part of the agreement TBC will will provide wholesale and tire distribution for Mavis' entire retail footprint, which now includes approximately 2,000 locations.
Sam Kato, president and CEO of TBC Corp., says that TBC is "grateful for the countless contributions our NTB and TK associates have made to our business and their customers. We look forward to their continued successes as part of Mavis. This transaction is an important step in the TBC strategic growth plan as a leader in the mobility and automotive industry. We are now well-positioned to drive sustained growth and innovation with more focused business strategies to enable the company to maximize value for its customers and partners.”
