TBC Corporation and Mavis Tire Express Services Corp have entered an agreement for Mavis to acquire 595 NTB Tire and Service Centers and Tire Kingdom Service Centers stores, according to a press release.
The transaction, which is expected to close in the coming weeks, will have Mavis acquiring 392 NTB stores and 203 Tire Kingdom locations. The stores are located in Florida and Texas and in states in the mid-Atlantic, Midwest, and South regions. Including all of Mavis’ brands, following the deal the company will have 2,000 retail locations.
Additionally, TBC and Mavis also entered into a distribution agreement, allowing TBC to provide wholesale and tire distribution for Mavis locations.
“We have a strong working relationship with TBC and a history of successfully integrating NTB locations into our platform, and we look forward to partnering with them again to welcome the talented NTB and Tire Kingdom teams to the Mavis family,” said Mavis’ Co-Chief Executive Officer Stephen Sorbaro.
