Mergers and Acquisitions Made Significant Return in 2024
In 2024, the tire dealership industry saw an increase in mergers and acquisitions compared to the previous year. The number of publicly announced acquisitions exceeded those of 2023, indicating a more active market for tire dealership acquisitions.
One prominent player in the industry was Gills Point S Tire & Auto, headquartered in The Dalles, Ore. They significantly expanded their operations by acquiring over 75 locations in the span of a year. Their most notable acquisition was Peerless Tyre, a large independent tire dealership with 50 locations across several states in the western United States.
The western U.S. emerged as a hotspot for tire dealership mergers and acquisitions in 2024. Companies like Burt Brothers Tire & Service Inc. from North Salt Lake, Utah, and Big Brand Tire & Service from Moorpark, Calif., also expanded their reach through acquisitions during the year.
Les Schwab Tire Centers Inc., based in Bend, Ore., made strategic acquisitions in 2024. Purcell Tire & Rubber Co. from Potosi, Mo., made a significant purchase by acquiring Jack’s Tire and Oil Management Co. Inc., which had 21 locations in Utah. Sun Tire & Auto Service Inc. based in Mesa, Ariz., made multiple acquisitions throughout the year, including 33 Caliber Auto Care locations in Texas and a 24-store chain in Phoenix, Ariz.
Discount Tire strengthened its presence in the Chicago area by acquiring Suburban Tire Auto Repair Centers, a six-store independent dealership. Further east, Sullivan Tire Co. Inc. from Norwell, Mass., acquired Stratham Tire, a well-established independent dealership with seven locations and another dealership.
The decline in interest rates in 2024 contributed to the heightened pace of tire dealership mergers and acquisitions. It is anticipated that this trend will continue into 2025, with more deals expected in the coming year.
For a comprehensive list of tire dealership acquisitions in 2024, readers can refer to MTD’s 2025 Facts Issue. The tire dealership industry is undergoing significant changes, with key players making strategic moves to expand their businesses and reach new markets. As the industry continues to evolve, it will be interesting to see how these acquisitions shape the landscape of the tire dealership industry in the coming years.
