American Tire Distributors Acquires Silver State Tire and Golden State Tire
CHARLOTTE, N.C., Jan. 6, 2006 -- American Tire Distributors, Inc. ("American Tire Distributors") announced today that they have reached an agreement to acquire 100 percent of the stock of Silver State Tire Company ("Silver State Tire") and Golden State Tire Distributors ("Golden State Tire"). This acquisition establishes a distribution footprint for American Tire Distributors across the state of Nevada and expands their presence in Northern California. American Tire Distributors expects the acquisition to close by the end of January.
"The addition of Silver State Tire and Golden State Tire enhances American Tire Distributors' coast-to-coast service level," said Richard P. "Dick" Johnson, Chairman and Chief Executive Officer of American Tire Distributors. "The Northern California and Nevada markets hold remarkable potential, given the population growth in these areas. We look forward to supporting and growing with the tire and custom wheel dealers in these expanding markets."
Silver State Tire and Golden State Tire currently service 1,250 customers from five distribution centers across Nevada and Northern California. The company was founded by Ed Stocker in 1982 with its first distribution center in Reno, Nevada.
The acquisition of Silver State Tire and Golden State Tire follows American Tire Distributors' August 2005 acquisition of Wholesale Tire Distributors. These recent additions to the American Tire Distributors footprint have expanded their distribution services to tire and custom wheel dealers across Utah, Wyoming, Idaho, and Nevada.
About American Tire Distributors
American Tire Distributors is one of the nation's largest independent suppliers of tires to the replacement tire market. American Tire Distributors operates 71 distribution centers servicing 39 states. The company focuses on helping tire and wheel retail dealers compete with larger retailers by offering the most complete, coast-to-coast selection of tires, wheels and related products and value-added services. American Tire Distributors employs over 2,100 employees across its nationwide distribution center network, including 200 people in its Charlotte-area Field Support Center, distribution center and regional hub.