ATD Acquires Consolidated Tire and Oil
By: Leon Castles
on Monday, May 28, 2012
In a recent announcement, American Tire Distributors said that they have already made the deal with Consolidated Tire and Oil. The company made the announcement that they have decided to buy the stocks of the company that will close the deal. ATD also mentioned that they have already bought most of the stocks so they will close the deal today. ATD also mentioned that Consolidated Tire and Oil have more than 500 customers from three Louisiana distribution centers and therefore they would like to take over all those customers. Consolidated Tire and Oil have more customers in Baton Rouge, Slidell and Lafayette.
American Tire Distributors are now interested in strengthening their market position and they believe that this deal will help them to get more recognition in the market. Consolidated Tire and Oil has a good presence in Ohio and western New York which will allow American Tire Distributors to spread their services in the United States rather than staying in the same states. American Tire Distributors are on the move to acquire more companies that they can get under their wing. Last year they managed to acquire North Central Tire Group that would help them to spread their services in Cincinnati and Canton. With this acquisition they already managed to get more 2700 customers under their distribution company.
William Berry, President and CEO of American Tire Distributors said that Consolidated Tire and Oil company is a respected firm and will offer them better market growth in the future. Currently, American Tire Distributors are the largest independent suppliers of tires to the replacement tire market. The company has 30 distribution centers in 39 states with 2500 employees of which more than 250 workers work in Charlotte.