The new company plans to invest significantly in rebuilding inventory and optimizing its distribution footprint
Huntersville, N.C.—American Tire Distributors, Inc. announced in a news release on Wednesday that it has completed the sale of substantially all of its assets to a buyer entity formed by its existing lenders. It will continue to do business under its existing name.
“With a focus on its core tire distribution business, the new company is committed to its national distribution network to drive efficiency and deliver exceptional value to its manufacturer partners and customers,” stated new ownership.
“Backed by a strong financial foundation, the new company plans to invest significantly in rebuilding inventory and optimizing its distribution footprint, ensuring a seamless and improved experience across its network.”
Ira Silver has been appointed as president and CEO, effective immediately, Sean Franciscus joins as executive vice president and COO, and executive vice president and chief sales officer is Keith Calcagno.
“With a strong financial position, experienced leadership team, and committed new owners, American Tire Distributors is ready to write its success story,” said Ira Silver, CEO of the New Company. “We are incredibly grateful for the support we’ve received and excited to focus on delivering for our manufacturer partners and bringing high-quality products and unparalleled service to our customers.”
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