Michelin: TBC sells its retail network


(CercleFinance.com) – Michelin announces that TBC, a tire distributor based in the United States which it operates jointly with Sumitomo, has reached an agreement to sell its portfolio of retail stores (NTB and Tire Kingdom) to Mavis Tire Express Service.

As part of the transaction, which is expected to be finalized in the coming weeks, TBC will transfer 595 retail locations and will also wholesale and distribute tires for Mavis.

‘By divesting its retail portfolio and focusing on its wholesale activities, TBC will improve its profitability by concentrating its resources on its core activities and streamlining its organisation,’ explains Michelin.

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