Bandag Sells More TDS Locations
Bandag Incorporated has stated that its wholly-owned subsidiary, Tire Distribution Systems, Inc. plans to sell 19 stores and nine retread plants to a current independent Bandag franchised dealer and a previous independent Bandag franchised dealer. TDS previously sold nine of its Tennessee commercial and retail outlets in 2003.
The shift of TDS locations into the hands of independent Bandag dealers began last year with the sale of several commercial and retail locations in Alabama, Georgia and Tennessee. One of the two transactions involves the proposed sale of seven stores and three retread plants in the state of Louisiana and seven stores and three retread plants in the state of Mississippi to Southern Tire Mart. The second deal sees five stores and three retread plants located in the state of Arkansas going to Trans American Holdings LLC, headquartered in Fort Smith, Arkansas.