Two giants in the retail tire industry — Town Fair Tire Centers Inc. and Mavis Tire Express Services Corp. — have announced plans to merge by the end of November.
The companies said both will keep their existing management teams and brands, as well as their separate headquarters.
"The combination of Town Fair and Mavis will unite two premier retail tire and service chains with a history of delivering the utmost customer satisfaction and the highest quality service," the companies said in a joint statement.
The merger creates a powerhouse in the Northeast, where both of the companies are based, and where combined they operate hundreds of stores. Town Fair's 100 stores are packed into six states: Connecticut, Massachusetts, Rhode Island, New Hampshire, Maine and Vermont. While Mavis, through acquisitions in recent years, has grown into a network of 904 stores and is the nation's second largest independent tire dealer. Its stores stretch from New York and New Jersey into the Southeast. Town Fair is the 14th largest independent tire dealer in the U.S.
The Town Fair management team, led by Neil and Mike Mellen, will continue to manage all Town Fair locations from the East Haven, Conn., headquarters. David and Stephen Sorbaro and their management team will do the save for Mavis from their home office in Millwood, N.Y.
Mellen said, “Since their founding, Town Fair and Mavis have solidified their positions as leading tire dealers based on our deep commitment to providing complete customer satisfaction and delivering the highest quality service. Both companies share these values, which is why we are confident we are the right partners going forward.”
David Sorbaro, co-CEO of Mavis, said, "Together, Town Fair and Mavis will realize a combined scale that better positions each of us to meet industry challenges and thrive in an ever-changing and competitive landscape. We are excited to bring together the talented teams of both companies and look forward to continuing to provide best-in-class service to all of our customers."
Financial terms of the transaction were not disclosed.
