TBC Corporation Celebrates 60 Years
TBC Corporation (TBC), one of North America’s largest marketers of automotive replacement tires headquartered in Palm Beach Gardens, FL, is pleased to recognize today as the 60th anniversary of the organization.
The story began in 1956 when a purchasing group of tire retailers was formed and collectively recognized as Cordovan Associates. In 1972, after much success, Cordovan Associates changed its name to Tire & Battery Corporation; just nine short years later it went public under the name TBC (NASDAQ: TBCC).
“As we reflect on the last 60 years, it’s apparent that the TBC story is truly one of hard work, adjusting to meet industry trends, exceeding customer expectations and growth,” recognized Erik R. Olsen, President, CEO & Chairman of the Board of TBC Corporation. “Throughout the years we have worked diligently to remain a tire company ahead of the curve; our history, proven track record of success and continued growth speak to our overall objectives and I am confident that we have the right team in place, nearly 11,000 associates strong, to maintain momentum and to continue our industry leading position for years to come.”
Today, TBC is the largest vertically integrated marketer of tires for the North American automotive replacement market more than 3,200 franchised and company-operated tire and automotive service centers, 9 proprietary tire brands and more than 50 retail and wholesale distribution centers. All of this adds up to responsibility for nearly 10% of all aftermarket tires sold in North America.
Throughout the years, TBC grew through joint venture opportunities, expanding operations to Mexico through TBC de Mexico in 1995, and by acquisition, the first being Big O Tires® in 1996, now an industry leading franchise organization. Prior to being acquired by Sumitomo Corporation of Americas (SCOA) in 2005, the largest subsidiary of Sumitomo Corporation of Japan, TBC added Carroll Tire Company, a leading wholesale tire distributor in the United Sates, and three retail brands – Tire Kingdom® Service Centers, NTB® Tire & Service Centers and Merchant’s® Tire & Auto Service Centers. Currently, there are nearly 800 company-owned retail locations throughout the United States. After continued success, Midas®, one of the world’s largest providers of automotive services, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,100 franchised, licensed and company-owned Midas shops in 13 countries, SpeeDee Oil Change & Auto Service®, a franchise-based full-service automotive care company, and R.O. Writer, a leading provider of shop management software solutions for automotive repair and tire shops, joined the organization in 2012.