CHARLOTTE, N.C. (May 24, 2012) American Tire Distributors, Inc. ("ATD") announced today that it has executed a stock purchase agreement of Consolidated Tire & Oil, Inc. ("CTO"). ATD expects the transaction to close today.
CTO services over 500 customers from three Louisiana distribution centers located in Baton Rouge, Slidell and Lafayette. This acquisition will strengthen ATD's market position in Louisiana. CTO, like ATD, focused their resources on their distribution infrastructure and delivering outstanding customer service.
"Consolidated Tire and Oil developed a well-respected distribution business in their market," said William "Bill" Berry, President and Chief Executive Officer of American Tire Distributors. 'ATD looks forward to expanding our service to customers in the Louisiana by offering an unmatched breadth and depth of product, a strong array of dealer marketing programs, and unsurpassed customer service."