Discount Tire, a leading independent retailer of tires and wheels, is acquiring Tire Rack, a leading independent tire tester and consumer-direct source for tires, wheels and performance accessories. The acquisition is a significant investment in Discount Tire’s commitment to provide the most Inviting, Easy, and Safe omnichannel, B2B, and fleet customer experiences in the world. The transaction is expected to close December 31, 2021.
Discount Tire chief executive officer Dean Muglia, a 32-year veteran of the business, will continue as CEO of Discount Tire. Mike Joines, with 42 years leading Tire Rack, will join the combined organization as CEO of Tire Rack along with Matt Edmonds and Mark Veldman of Tire Rack’s executive team. The Tire Rack executive team and management team will continue in their roles to advance the company’s digital sales and online customer experience and partner with Discount Tire on integration efforts. The Veldman family, founders of Tire Rack, will have representation on the Board of Directors of Discount Tire.
Discount Tire, which was founded by Bruce T. Halle in 1960 and remains privately held, intends to continue to use the Tire Rack brand name as TIRERACK.COM online, TR Wholesale Solutions in car dealer and wholesale channels, and TIRE RACK MOBILE INSTALLATION in the mobile installation arena. The company, which is legally named The Reinalt-Thomas Corporation, currently does business as Discount Tire in most of the U.S., America’s Tire in parts of California, and Discount Tire Direct online.PRNews Wire