The acquired locations are Cadillac, Kalamazoo, and Oak Park in Mich., and Hammond, Ind., and K&M Tire will retain Turbo’s Midwest employees
Delphos, Ohio—K&M Tire, Inc. has announced it has signed a definitive agreement to acquire the Midwest wholesale distribution locations of Turbo Wholesale Tires, a tire supplier, wholesaler and distributor.
The transaction will close on Friday, May 16. The acquired locations are Cadillac, Kalamazoo, and Oak Park in Mich., and Hammond, Ind. Both K&M and Turbo have their roots as family-owned, customer service-focused businesses, with similar values and cultures.
K&M will partner closely with Turbo as it maintains its focus on growing its proprietary Lexani, Lionhart, and Rolling Big Power (RBP) brands, while also continuing to operate its wholesale distribution location in Southern California.
K&M Tire will welcome Turbo’s Midwest employees and customers. Cheryl Gossard, President of K&M Tire said, “We’ve had a growing interest in expanding our distribution footprint within the Midwest market. We feel that the Midwest team at Turbo Wholesale Tires fits our company culture and values and will be a wonderful addition to our team.”
Operations will continue seamlessly during the transition. “We are excited to be partnering with K&M Tire in this way. It is an important Turbo customer, and there are longstanding personal ties between our organizations. This deal made perfect sense for us and our people,” said Phillip Kane, Turbo CEO. “What’s more, our agreement provides Turbo with a significant, incremental growth opportunity for our proprietary Lexani, Lionhart, and RBP brands that goes well beyond the value of today’s transaction. We couldn’t be happier.”
With this acquisition, K&M Tire continues to expand its network to over 40 distribution centers nationwide.
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