SCOTTSDALE, Arizona. and SOUTH CURVE, Ind., December 3, 2021 / PRNewswire / – Discount Tire, a Leading Independent Tire and Wheel Retailer, Acquires Tire Rack, a Leading Independent Tire Tester and Direct Source for Tire, Wheel and Consumer Consumers performance accessories. The acquisition is a significant investment in Discount Tire’s commitment to providing the most engaging, easy and secure omnichannel, B2B and fleet customer experiences in the world. The transaction should be completed December 31, 2021.
Learn more about TireRack.com
Managing Director of Discount Tire Dean Muglia, a 32-year veteran of the company, will continue as CEO of Discount Tire. Mike Joines, with 42 years at the helm of Tire Rack, will join the combined organization as CEO of Tire Rack with Matt Edmonds and Marc Veldman of the Tire Rack management team. Tire Rack’s leadership team and leadership team will continue to play their role in advancing the company’s digital sales and online customer experience and will partner with Discount Tire on integration efforts. The Veldman family, founder of Tire Rack, will be represented on the Board of Directors of Discount Tire.
Discount Tire, which was founded by Bruce T. Halle in 1960 and remains a private company, intends to continue using the Tire Rack brand as TIRERACK.COM online, TR Wholesale Solutions in wholesale channels and car dealerships, and TIRE RACK MOBILE INSTALLATION in the field of mobile installation. The company, legally called The Reinalt-Thomas Corporation, currently operates as Discount Tire in most of the United States, America’s Tire in parts of California, and Discount Tire Direct online.
Tire Rack was founded by Peter and Wilma Veldman in the same way Mike Joines in 1979 in Indianapolis, Indiana, and has quickly grown as one of the most trusted and respected sources of information for online shoppers of tires, wheels and accessories. From October 31, 2021, a privately owned family business, Tire Rack employed over 950 team members. Upon closing, it will become the exclusive property of Discount Tire, also a private family business. Members of the Tire Rack team will be integrated into Discount Tire, with Tire Rack’s head office being maintained in South Bend, Indiana.
“We have admired each other from afar for many years, each pushing the industry forward to meet customers where they are most confident to buy tires and wheels,” said Dean Muglia, CEO of Discount Tire. “We couldn’t be more excited to add the operations of Tire Rack and its excellent team led by Mike Joines, which I got to know well. This accelerates our omnichannel strategy, provides a wider distribution network and a platform to improve our B2B and fleet capabilities. Quite simply, we’re better together. “
“The acquisition of Tire Rack is a natural pairing of two historic family brands that have built successful businesses by treating people the way they want to be treated and focusing on providing the best possible experiences for our employees and customers.” , said Michael Zuieback, Executive Chairman of the Board of Directors of Discount Tire. “We were drawn to Tire Rack for the vision they share with Discount Tire in transforming omnichannel, B2B and fleet customer experiences. We are excited to collaborate on improving the tools and technologies that will advance an entire industry. Together we will make more dreams come true for all of our wonderful people. ”
“We believe we can deliver greater impact through better service to customers who have chosen Tire Rack for their tire and wheel needs and provide better opportunities for our team members through this partnership,” said Mike Joines, CEO of Tire Rack. “Joining the Discount Tire family is an incredible milestone for our business, an opportunity for our team members and a testament to the hard work and legacy of Pete and Wilma Veldman. We are thrilled to be part of Discount Tire, a company that serves customers through a welcoming, easy and safe experience while caring for and valuing their team members. “
For more information, visit discounttire.com.
About discount tires
Discount Tire, based at Scottsdale, Arizona, is a leading independent tire and wheel retailer. Discount Tire was founded in 1960 by Bruce halle and serves customers in 1,100 stores in 37 states. The company operates under the trade name Discount Tire in most of the United States and America’s Tire in parts of California. Discount Tire’s latest tool to help you take care of yourself, Treadwell, is an exclusive online tire shopping experience that uses decades of data and individual driving habits to recommend the right tires. For more information, visit discounttire.com.
About the tire holder
Tire Rack, a family business and based in South Bend, Indiana, is one of the leading independent tire testers and a direct source for consumers of performance tires, wheels and accessories. Since 1979, Tire Rack has grown from a single point retail store in Indianapolis to over 2.8 million square feet of space in ten distribution centers across the country. Tire Rack operates as TIRERACK.COM online, TR Wholesale Solutions in car dealerships and wholesale channels, and TIRE RACK MOBILE INSTALLATION in some areas as a mobile installation solution.
Press contact: Greg miller, 844-400-0221, [email protected]
Press visuals: Dropbox
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