Kal Tire has struck an agreement with Bridgestone Canada (Bridgestone) to buy 15 full-service GCR Tyres & Service (GCR) stores, two retread factories, and one off-the-road (OTR) tyre repair shop from Bridgestone.
With the purchase of these facilities, Kal Tire will be able to service more consumers, businesses, and miners in its present Canadian markets, as well as expand its presence to include locations in eastern Canada.
Kal Tire plans to purchase GCR stores and retread operations in Newfoundland, Nova Scotia, New Brunswick, Quebec, and Ontario. Consumers, as well as the commercial transportation, OTR, agriculture, and mining industries, are currently served by these facilities. Upon completion of the acquisition, which is slated to close in Q4 2021, all 125 GCR workers are expected to join Kal Tire.
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"At Kal Tire, we are driven to provide customers with best-in-class tires and service. To achieve this, we need to continue to strengthen our network of locations that are staffed by experts in the tire and service industry," says 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 organization,” said 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."
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Bridgestone Americas will continue to operate 59 GCR stores and 13 GCR retread factories in the Western United States as a leading provider of commercial tyres and services. GCR is an important aspect of Bridgestone's commercial distribution strategy in the United States, and the company is committed to providing best-in-class service to commercial customers while also driving growth and supporting future mobility solutions.
Until the transaction is completed, the GCR outlets that are part of the sale will operate independently of Kal Tire. Bridgestone and Kal Tire are committed to serving their consumer and commercial clients and have devised a comprehensive plan to ensure a smooth transition for all GCR workers and customers.
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