Discount Tire Aquires Tire Rack Creating Tire Retail Powerhouse

Two giants in tire retailing come together. How it might impact your next tire purchase.

Discount Tire, a leading independent retailer of tires and wheels, will acquire Tire Rack, a leading independent tire tester and consumer-direct source for tires, wheels, and performance accessories according to reports today. The acquisition is a continuation of Discount Tire's plan to provide the most Inviting, Easy, and Safe omnichannel, B2B, and fleet customer experiences in the world. If all goes as planned the acquisition will be completed by year’s end.

Discount Tire will continue to be led by chief executive officer Dean Muglia, a 32-year veteran of the business. Joining this leadership team will be Mike Joines, also a veteran with 42 years of experience leading Tire Rack. The Tire Rack executive team and management team will continue in their roles as part of 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 be represented on the Board of Directors of Discount Tire.

"We have for many years admired one another from afar, each pushing the industry forward to meet customers where they are most confident shopping for tires and wheels," said Dean Muglia, CEO at Discount Tire. "We could not be more excited about adding Tire Rack's operations and its excellent team led by Mike Joines, who I've come to know well. This accelerates our omnichannel strategy, provides a broader distribution network and a platform to enhance our B2B and fleet capabilities. Quite simply, we are better together."

"We believe we can provide a greater impact through better service to Customers that have chosen Tire Rack for their tire and wheel needs and provide better opportunities for our Team Members through this partnership," said Mike Joines, Tire Rack CEO. "Joining the Discount Tire family is an incredible milestone for our business, an opportunity for our Team Members and a testament to the hard work and legacy of Pete and Wilma Veldman. We're thrilled to become a part of Discount Tire, a company that serves customers through an Inviting, Easy, and Safe experience while also taking care of and valuing their Team Members."

Tire Rack was founded 1979 in Indianapolis, Indiana, and grew rapidly as one of the most trusted and respected sources of information for online buyers of tires, wheels and accessories. Tire Rack has nearly 1,000 employees. Discount Tire, legally named The Reinalt-Thomas Corporation, was founded in 1960 and is privately held. The company says that it 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.

Note: Facts and quotes from this story provided by PR Newswire. Image courtesy of PR Newswire.

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