Pep Boys Acquires 12 Tire Stores in Memphis
Photo: Dwight Burdette
Pep Boys — Manny, Moe & Jack has acquired 12 retail tire locations in the Memphis area with the purchase of Mathis Tire & Auto Service Inc. and Direct Tire Distributors Inc.
“We are excited about this acquisition of a strategic 12-location automotive service chain and tire wholesale business, which positions Pep Boys as the third-largest automotive repair and maintenance chain in Memphis,” says Pep Boys’ President of Service, Bill Ihnken. “It allows us to enter into a new market with Pep Boys’ service business while leveraging well-established locations with significant growth potential.”
Mathis Tire has been in business for 24 years, and has nine locations — four in Memphis, plus stores in Collierville and Bartlett Tenn., plus two stores in Southaven, Miss. and one in Olive Branch, Miss.
In 2003, Mathis Tire purchased Direct Tire, a three-store tire dealer and tire wholesaler that has operated in the area for nearly 40 years. All three of Direct Tire's retail stores are in Memphis.
Pep Boys says it will expand the hours and services offered at all 12 locations as they transition to Pep Boys Service & Tire Centers. They will offer a full range of services such as oil changes, tire installations, brake repair and suspension work.
“With the help of the more than 90 experienced team members we are welcoming to our organization, Pep Boys has the opportunity to serve the automotive repair and maintenance needs of customers across the city of Memphis and its suburbs, including several communities in Mississippi,” says Daniel Ninivaggi, CEO of Icahn Automotive Group LLC, the parent company of Pep Boys. “In addition, this purchase includes a large tire warehouse, which houses over 6,000 tire units. We will grow its existing tire wholesale business and leverage this warehouse to launch a tire distribution operation in Memphis.
“This acquisition fits squarely into Pep Boys’ long-term strategy to grow its Service and tire distribution business in target markets across the U.S.”