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Chemicals Trade | Tire Dealers | Tire Wholesalers | Motor Vehicles & Parts Wholesalers | TiresMergers & Acquisitions | Company Earnings | Ownership ChangesIllinois, USA | Memphis, TN, USA

TBC to purchase Sears' Tire & Battery unit

Tire distributor TBC Corp., Memphis, Tenn., has agreed to buy Sears, Roebuck & Co.'s National Tire & Battery unit for $260 million in cash, to include $35 million in inventory and additional assets. The deal is expected to close in the fourth quarter and
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Hoffman Estates, Ill.-based Sears says it expects to record a $50 million to $100 million pretax gain on the sale. The purchase will up TBC's national presence by 25 percent to a total of 1,144 locations. The tire company currently owns 357 stores and has an additional 561 outlets franchised under the Big O Tires banner.

In addition, make sure to read these articles:

  • TBC Corporation Announces Earnings Conference Call.
    • Business Editors One of the nation's largest marketers of replacement automotive tires, TBC Corporation (NASDAQ:TBCC), announced today its second quarter earnings conference call and web ......
  • TBC Corporation Revises Time for Earnings...
    • Business Editors One of the nation's largest marketers of automotive replacement tires, TBC Corporation (NASDAQ:TBCC), announced today that the time of its second quarter earnings ......
  • Research and Markets: American Tire Distributors...
    • DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c35268) has announced the addition of Tire Wholesalers - Industry Profile to their offering. Brief Excerpt from Industry ......
  • TBC Corp. Announces Web Cast of Fourth Quarter...
    • Business Editors MEMPHIS, Tenn.--(BUSINESS WIRE)--Feb. 5, 2002 One of the nation's largest marketers of automotive replacement tires, TBC Corporation (NASDAQ: TBCC) announced today that it ......
  • Big O Tires, Inc.
    • Big O Tires, Inc. hired Kyle Iwasawa as president of franchise business....
  • Big O Tires.
    • Big O Tires promoted Terry Miller to regional business manager for the southwest region and hired Greg Pater as the area sales manager....
  • Success magazine ranks Big O Tires top automotive...
    • ENGLEWOOD, Colo.--(AutomotiveWire)--Nov. 16, 1995--Big O Tires Inc. (NASDAQ:BIGO) the national tire chain, has been ranked as the best of nine Automotive Service franchise companies in ......
  • Barkley to Rebrand Big-O
    • Independent Barkley plans to launch a rebranding campaign for Big-O Tires in the second quarter, according to the agency. The shop won the assignment after ......
  • Big O Tires, Inc.
    • Big O Tires, Inc. donated $50,000 to Alex's Lemonade Stand Foundation for Childhood Cancer....
  • Big O Tires 540 stores in 21 states partnered this...
    • Big O Tires 540 stores in 21 states partnered this summer with the Alex's Lemonade Stand Foundation to help raise funds for pediatric cancer. Company ......
  • Big O Tires, together with the company's...
    • Big O Tires, together with the company's scholarship fund awarded 13 scholarships to college students. Five individuals were awarded $2,500 each and eight received $1,000 ......
  • Big O Tires presents $65,000 to American...
    • Franchise Appreciation Day attendees from Big O Tires took a little side trip away from Capitol Hill during their visit to Washington, D.C. in September....
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