Pep Boys has purchased
Big 10 Tires, the
seventh-largest independent tire dealer in
the nation with 85 stores throughout the
Southeast consisting of core markets in
Alabama, Florida and Georgia.
“This acquisition furthers our stated
strategy to grow through service and tire
centers,” says Mike Odell, Pep’s president and
CEO. “We are very excited to add this many
new service and tire centers in a single
transaction and to improve our market
density in Orlando, Atlanta and the Gulf
area of Florida and Alabama.”
Terms of the deal were not
disclosed.
Founded in 1954, Big 10 had been
acquired by an affiliate of business
turnaround specialists Sun Capital
Partners, Inc. in November of 2006. The
company initiated a restructuring process
by filing for bankruptcy in June of
2009.
Since the acquisition, Big 10 has optimized
its cost structure and footprint to remain
competitive during both the recession and
an era of rising fuel prices, according to
Peter Y. Lee, a Sun vice president.
Big 10 has expanded its product offerings,
realigned the management structure to
improve operating efficiencies and launched
a campaign that further strengthened the
company’s core markets, he reports, adding
that Big 10’s performance has improved and
the company has grown through a targeted
reopening of select stores that were closed
during the bankruptcy and restructuring
process.
“We are delighted by the progress Big 10
has made. The company has maintained its
position as one of the leading aftermarket
tire and service retailers able to weather
even the most challenging market
conditions,” says Lee. “We are confident
that Big 10 will continue to perform and
grow under its experienced new
owners.”
For more information, visit www.pepboys.com, and www.suncappart.com.
