Omni United buys Interstate Tire Distributor
Omni United Pte. Ltd. has acquired Interstate Tire Distributor (ITD), a US tyre wholesaler based in California, USA. Further details of the transaction have not been disclosed. According to Omni United, the acquisition of ITD “substantially accelerates the global growth strategy” of the company.
ITD was founded in Los Angeles, CA in 1963. Since then, the company has grown throughout Southern California and across the Southwestern United States to service more than 3,500 tyre retailers throughout the western part of the US. It operates six locations in key tyre markets in the US, including three in California (Commerce, San Bernardino and Fullerton); one in Arizona (Phoenix); one in Utah (Salt Lake City); and one in Nevada (Las Vegas).
ITD focuses on distributing mid–tier leading brands such as Toyo, Nexen and Yokohama, in addition to more value driven brands such as Mastercraft, Duro, Atturo and Goodride, (the latter, part of Omni United’s portfolio).
The deal will double Omni’s current US retail reach. Omni United generates close to 65 per cent of its revenues in the US.
“The acquisition of ITD is another important strategic step in the evolution of Omni United as a tyre designer and marketer and it will reinforce our presence in our core market, the USA.” said GS Sareen, CEO of Omni United. ”We are excited about the opportunities for growth, learning and innovation that this move towards vertical integration in our industry will present. We are constantly looking at acquiring similar businesses in other US and international markets.”
“ITD is very pleased to become a part of Omni United, a company that shares the same philosophy and commitment to excellent service and high quality products.” said John Farkas, President of ITD.
Omni United’s plans for ITD include significantly expanding its existing business, by investing in larger warehouse facilities, increasing its geographical reach and launching additional product offerings. Following the acquisition, ITD will also distribute some of the other brands part of Omni United’s stable, including the recently launched, award-winning, Timberland Tires, launched earlier in 2015 in partnership with outdoors lifestyle fashion and footwear brand, Timberland.