Love’s Travel Stops & Country Stores (Love’s) and Bridgestone Americas Inc. have reached an agreement for Love’s to purchase Speedco, a national network of service locations that provides quick lube and inspection services to the trucking industry. The transaction is subject to regulatory approvals and certain other closing conditions.
The acquisition will combine two hallmark brands in the highway service industry and will add 52 trucking service and lube locations to the Love’s network, bringing the number of Love’s operated tire service and lube facilities to 323.
Love’s has developed its Truck Tire Care service to become an industry leader over the past decade starting with new tire sales and more recently adding oil change, lube and light mechanical services at most of its larger travel stops across the country.
“The Speedco organization shares our commitment to providing reliable, high-quality and convenient services to truck drivers and fleets across the country,” said Tom Love, founder and executive chairman for Love’s Travel Stops & Country Stores. “The addition of the Speedco locations to Love’s is an important step in continuing to provide the highest standard of service to the trucking industry.”
For more than 25 years, Speedco has focused on providing the trucking industry with high-speed preventative maintenance services, becoming a leader in lube services at highway locations across the United States. Since 2007, Speedco has operated as a subsidiary of Bridgestone Americas, a leading provider of best-in-class tire and rubber products and services around the world.
“Speedco is a strong commercial retail service business, and Love’s is the right partner to build on Speedco’s success and ensure a great future for Speedco employees,” said Bill Thompson, chief operating officer, Bridgestone Americas. “We are excited to continue our relationship with Love’s as a valued partner in the strong Bridgestone distribution network.”
Prior to closing, Speedco and Love’s will continue to operate as separate companies. During this transition period, Speedco will conduct business as usual with a continued focus on meeting the needs of customers.
This story first appeared on aftermarketnews.com
