PORTLAND, Ore., May 12, 2011 /PRNewswire/ -- Tire Factory today announced the acquisition of the wholesale operations in Denver, Colorado formerly known as Meadow Creek and currently owned by Nokian Tyres Inc. Tire Factory will begin operating the company on May 23, 2011.
Chris Cornelius, Tire Factory's Chairman of the Board, and co-owner of Clair & Dee's Tire Factory in Rexburg, Idaho commented on the transaction saying, "The acquisition of this facility completes one of our strategic goals for expansion in the Southwestern United States. Our new Denver facility will make Tire Factory's programs, and buying power more accessible to independent tire dealers who want to become part of the Nation's best member-owned tire buying and marketing co-op."
"Nokian Tyres Inc. has a strong partnership with Tire Factory; one that is based on shared goals for growth in the northwestern U.S.," said Jari Lepisto, GM of Nokian North America. "When Tire Factory expressed an interest in acquiring our operations in Denver, we determined that having them do so was an excellent fit with our total growth plan in that territory, and we were pleased to enter into this agreement."
John Kreidel, Tire Factory's Chief Executive Officer stated, "Adding Denver to our Portland, Oregon and Salt Lake City, Utah facilities gives us more efficient distribution in Western United States. More efficient distribution helps keep transportation costs lower for our Members, and allows them to grow in a marketplace that daily is more competitive. Existing Members will benefit from the increased buying power, increased volume, related programs and profitability that come from being a larger tire retailer."
About Tire Factory
Tire Factory is headquartered in Portland, Oregon with distribution centers in Portland, Oregon and Salt Lake City, Utah. It is the nation's leading member-owned organization of independent tire dealers. There are over 200 Tire Factory Members operating in 15 Western states. Tire Factory's sales at retail are in excess of $300 million. Tire Factory supplies its Members with tires, equipment, operating supplies and marketing and sales promotion support.
SOURCE Tire Factory
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