Kal Tire and Bridgestone Canada have reached an agreement for Kal Tire to purchase 15 full-service GCR Tires & Service (GCR) stores, two retread plants and one OTR tyre repair shop from Bridgestone.
Two Retread Shops Acquired from Bridgestone
The purchase of these locations will allow Kal Tire to serve more consumer, commercial and mining customers in the Canadian markets where it currently operates, as well as expand its footprint to include locations in eastern Canada.
The GCR stores and retread plants in question are located in Newfoundland, Nova Scotia, New Brunswick, Quebec, and Ontario. These locations currently serve consumer customers, along with the commercial trucking, OTR, agriculture and mining industries. All 125 GCR employees are expected to join Kal Tire upon completion of the transaction, which is scheduled to close in Q4 2021.
“At Kal Tire, we are driven to provide customers with best-in-class tyres and service. To achieve this, we need to continue to strengthen our network of locations that are staffed by experts in the tyre and service industry,” said Robert Foord, president, Kal Tire. “The purchase of these GCR locations allows us to expand our footprint across Canada, while also bringing more knowledge and expertise to our team.”
“This sale is a positive step for GCR employees and customers who have a bright future ahead as part of the Kal Tire organisation,” added Scott Damon, chief operating officer, Bridgestone Americas. “As Bridgestone and Kal Tire evolve for the future, this transaction will enable strategic growth for both companies. We look forward to building on our longstanding partnership with Kal Tire to drive additional growth in Canada for Bridgestone’s products, brands and mobility solutions.”
As a leading provider of commercial tyres and service, Bridgestone Americas will continue to operate 59 GCR stores and 13 GCR retread plants in the Western United States.
The GCR stores included in the sale will conduct business separately from Kal Tire until the transaction closes.