According to Les Schwab Tire Centers, the tire company has reached an agreement to acquire Plains Tire Co., an 80-year-old tire company with nine stores in Wyoming.
Les Schwab will purchase Plains Tire for an undisclosed sum, said Les Schwab CEO Jack Cuniff.
“We opened our first store in Wyoming in Rock Springs in 2019 with plans to grow our footprint over time. With this purchase, we are able to serve much of the state in one step,” Cuniff said.
“Plains Tire is a strong and healthy company, and it’s exciting to be able to speed up our growth by welcoming these stores, employees and customers into Les Schwab.” Plains Tire owner Larry Nicholls said Les Schwab is the right buyer at the right time.
“Plains Tire is strong because our hard-working employees provide the excellent service our customers rely on,” Nicholls said. “Being part of Les Schwab, a company consistently rated the best in the tire industry, will create even more opportunity for our people, and I know our employees, customers and communities will be well cared for. I don’t believe I could have found a better partner than Les Schwab to sell our family’s company to, and I’m excited to watch these stores grow and flourish.”
Les Schwab plans to continue growing organically by opening its own new stores, but also to proactively pursue other expansion and buy-out opportunities, said Chief Administrative Officer Corey Parks, who leads the company’s expansion and development initiatives.
“Les Schwab is actively looking for opportunities to acquire other great companies like Plains Tire,” Parks said. “We believe we are an outstanding partner for well-run, highly respected tire dealers who want to see their employees, customers and business well taken care of, and want to grow together with our company.”
No changes will be made immediately for the Plains Tire stores while Les Schwab evaluates how best to integrate the two companies. The sale is expected to close in early August 2021.