American Tire Distributors is building a new $6 million distribution centre in Illinois, reports Tire Review. Earlier this week, the Morton (Illinois) Economic Development Council voted unanimously to give ATD a two-year, 60 per cent property tax abatement in 2013 and 2014 to help it deal with soil problems on the 11-acre site selected for the new warehouse. Four other Morton taxing bodies must still approve the tax abatement, but it is expected to pass easily, according to local reports.
After opening new distribution centers in Ohio and Indiana – new markets for its vast operations – American Tire Distributors is now eying expansion into New York, New Jersey, eastern Pennsylvania and the entire New England area, reports Tire Review.
Tire Review reports American Tire Distributors has expanded its reach into Ohio with the opening of a new distribution centre near Cincinnati. The 85,158sqf unit is located in suburban Fairfield, Ohio. The company also announced plans to open its 86th distribution center near Indianapolis sometime this summer.
The $1.3 billion sale of American Tire Distributors to TPG Capital has officially closed, according to a Tire Review report. “We are excited to move forward with TPG as our new partner. They recognize the value we have built and they share our vision for a successful future,” said Bill Berry, ATD president and CEO. ATD runs 83 distribution centres serving 37 US states.
American Tire Distributors Inc (ATD) sold $250 million of senior secured second lien notes on the 144a private placement market on 19 May 2010, the IFR financial information service has reported. The news follows the announcement that North America’s largest independent tyre distributor changed hands for approximately US$1.3 billion on 21 April 2010 when Equity firm Texas Pacific Group (TPG Capital) purchased American Tire Distributors from Investcorp, Berkshire Partners and Greenbriar Equity Group.
North America’s largest independent tyre distributor has changed hands for approximately US$1.3 billion. In a deal announced on April 21, Equity firm Texas Pacific Group (TPG Capital) has purchased American Tire Distributors from Investcorp, Berkshire Partners and Greenbriar Equity Group, who acquired the distributor for $500 million in 2005. The transaction is expected to close in the second quarter of 2010. Pursuant to the acquisition, American Tire will suspend its planned public offering and listing on the New York Stock Exchange.
North Carolina, US based wholesaler American Tire Distributors Holdings has lodged registration documents with the US Securities and Exchange Commission to initiate proceedings for a proposed initial public offering of its common stock. The company, who claims to be the largest replacement tyre distributor in the United States, intends to list its common stock on the New York Stock Exchange under the symbol "ATD", however it has not yet determined the number of shares to be offered and the price range for the offering.
American Tire Distributors has parted with the last of the Am-Pac Tire Distributors retail stores it acquired nearly a year ago, Tire Review reports. ATD said it has either closed or sold off the 11 Tire Pros stores. Ten in California were sold in October to investors and store managers, while a lone store in Arizona was closed. This past June, ATD sold 26 Autotire Car Care Center stores in the St. Louis area to Monro Muffler Brake Inc.
(Tire Review) American Tire Distributors has partnered with non-profit Boundless Playgrounds to build a playground accessible to children with and without disabilities. The playground, which ATD is helping fund with a $100,000 donation, will be located in Huntersville, N.C., where ATD is based. ATD unveiled plans for the playground and announced an additional $70,000 in charitable gifts to two Charlotte-area human services agencies during its 20th annual American Tire Distributors Charity Classic, which this year crossed the $1 million mark in total funds raised for local non-profits.
US based tyre wholesaler and distributor American Tire Distributors Holdings (ATD) intends to sell the 37 retail outlets it acquired in 2008 as part of its purchase of Am-Pac Tire Distributors. In a financial filing with the US Securities and Exchange Commission, the company states: “The acquisition of Am-Pac Tire also added 37 retail stores, predominately in the St. Louis, Missouri and Southern California areas. As these stores are not core to the Company’s business, management’s intention is to divest of these stores during 2009.”
American Tire Distributors said last week that its 2008 sales increased 4.4 per cent year-on-year while net income jumped more than 700 per cent. ATD posted 2008 sales of $1.96 billion, up from 2007 sales of $1.88 billion. Net profits, though, increased from $1.37 million in 2007 to more than $9.67 million last year. (Tire Review/Akron)
American Tire Distributors announced it will expand its presence in Augusta, Georgia with the construction of a $4 million, 81,000 square foot distribution facility. The new facility, which has been in planning stages for four years, will result in 30 new jobs. ATD currently has a 15,600 square foot facility, which employs 10 people, in the city.
“Our new facility in Augusta will allow us to be much more efficient in distributing tyres to our customers in this area,” said Dick Johnson, CEO and president of ATD, explaining that the new distribution center will be in a prime location for ATD trucks, as well as those of pick-up customers. (Tire Review/Akron)
Bill Berry has been tipped to be American Tire Distributors’ new CEO and president with the pending retirement of Dick Johnson, who will step down on 5 April. Berry, currently president and COO, joined ATD in 1998 when ATD (then Heafner Tire) merged with Itco Tire Co. He became executive vice president and COO in January 2002 and was named president and COO in May 2003.
Johnson will remain as chairman of the company for the next two years. He became chairman and CEO in May 2003, and during his tenure ATD doubled its sales to more than $2 billion and led the acquisition of numerous tyre distributors, including Am-Pac in late December.
“It has been my privilege to work closely with Bill Berry and the rest of the leadership team over the past decade to build a company that is stronger than ever and ready to shape the future of our industry,” said Johnson. “The changes announced today are the result of a succession plan developed over several years and designed to ensure a seamless transition and strength, stability and continuity of leadership for our company.” (Tire Review/Akron)
American Tire Distributors announced on Friday afternoon that it has purchased Simi Valley, California-based Am-Pac Tire Distributors. Am-Pac is a wholly owned subsidiary of Tokyo-based Itochu Corp. Terms of the deal were not announced. Both Am-Pac and ATD are member distributors of American Car Care Centers; it is not know what this deal will mean to the structure of the 1,100-dealer marketing group. ATD became an ACCC member distributor in September 2004 with its purchase of then ACCC member Target Tire.
Am-Pac also runs its own Tire Pros associate dealer program, which has approximately 300 member dealers. Some 90 of those member dealers are affiliated wholesalers for Am-Pac. The deal gives ATD some 100 distributor centers across 36 states, adding to its already vast distribution empire.
“By combining the resources of these two organizations, American Tire Distributors will be better positioned to service our customers,” said Dick Johnson, ATD chairman and CEO. “We will have an unmatched breadth and depth of product, a strong offering of dealer marketing programs, and a distribution network that is without equal in our industry. All of these attributes will make us a better distribution partner for our dealers.” (Tire Review/Akron)
American Tire Distributors has acquired the assets of Remington Tire Distributors (dba “Gray’s Wholesale Tire Distributors”), further enhancing ATD’s service level to tyre retailers across the states of Texas and Oklahoma, according to the company. Gray’s operated two wholesale distribution centres in Texas, one in Houston and one in Fort Worth. These distribution centres service over 3,000 customers across Texas and Oklahoma.
“American Tire Distributors began servicing tyre retailers across Texas and Oklahoma in July of 2004,” said Richard Johnson, chairman and CEO of ATD. “Since that time, we have invested in our facilities, our people and our customers and, as a result, we have gained new customers and market share. The acquisition of Gray’s is another investment that will enable American Tire Distributors to better serve our customers in these two states.” (Tire Review/Akron)