Tire Rack purchased by Discount Tire

David S.
By David S. Wallens
Dec 6, 2021 | Tire Rack

Ken Neher photo

Big news as giant tire retailer Discount Tire just acquired giant tire retailer Tire Rack.

But what about all of that SCCA support?

The SCCA’s Heyward Wagner shared this on the SCCA Time Trials Nationals Facebook group:

This is very exciting news for SCCA’s longest standing partner-  We got the “head’s up” call a bit ago.  Tire Rack brand will carry forward, remain headquartered in South Bend and will continue to be a big part of SCCA.  We are looking forward to continued partnership for years to come!

Here's the entire release about the merger:

Discount Tire, a leading independent retailer of tires and wheels, is acquiring Tire Rack, a leading independent tire tester and consumer-direct source for tires, wheels and performance accessories. The acquisition is a significant investment in Discount Tire's commitment to provide the most Inviting, Easy, and Safe omnichannel, B2B, and fleet customer experiences in the world. The transaction is expected to close December 31, 2021.

Discount Tire chief executive officer Dean Muglia, a 32-year veteran of the business, will continue as CEO of Discount Tire. Mike Joines, with 42 years leading Tire Rack, will join the combined organization as CEO of Tire Rack along with Matt Edmonds and Mark Veldman of Tire Rack's executive team. The Tire Rack executive team and management team will continue in their roles to advance the company's digital sales and online customer experience and partner with Discount Tire on integration efforts. The Veldman family, founders of Tire Rack, will have representation on the Board of Directors of Discount Tire. 

Discount Tire, which was founded by Bruce T. Halle in 1960 and remains privately held, intends to continue to use the Tire Rack brand name as TIRERACK.COM online, TR Wholesale Solutions in car dealer and wholesale channels, and TIRE RACK MOBILE INSTALLATION in the mobile installation arena. The company, which is legally named The Reinalt-Thomas Corporation, currently does business as Discount Tire in most of the U.S., America's Tire in parts of California, and Discount Tire Direct online.

Tire Rack was founded by Peter and Wilma Veldman along with Mike Joines in 1979 in Indianapolis, Indiana, and grew rapidly as one of the most trusted and respected sources of information for online buyers of tires, wheels and accessories. As of October 31, 2021, privately held, family-owned Tire Rack employed more than 950 Team Members. It will become wholly owned by Discount Tire, also a privately held family-owned business, at closing. Tire Rack Team Members will be integrated into Discount Tire with the Tire Rack headquarters being maintained in South Bend, Indiana.

"We have for many years admired one another from afar, each pushing the industry forward to meet customers where they are most confident shopping for tires and wheels," said Dean Muglia, CEO at Discount Tire. "We could not be more excited about adding Tire Rack's operations and its excellent team led by Mike Joines, who I've come to know well. This accelerates our omnichannel strategy, provides a broader distribution network and a platform to enhance our B2B and fleet capabilities. Quite simply, we are better together."

"The acquisition of Tire Rack is a natural pairing of two storied, family-owned brands that built thriving businesses by treating people how they want to be treated, and focusing on delivering the best possible experiences for our people and our customers," said Michael Zuieback, Executive Chairman of the Board of Directors at Discount Tire. "We were attracted to Tire Rack for the vision they share with Discount Tire in transforming the omnichannel, B2B and fleet customer experiences. We are excited to collaborate on enhancing the tools and technologies that will advance an entire industry. Together, we will make more dreams come true for all our wonderful people." 

"We believe we can provide a greater impact through better service to Customers that have chosen Tire Rack for their tire and wheel needs and provide better opportunities for our Team Members through this partnership," said Mike Joines, Tire Rack CEO. "Joining the Discount Tire family is an incredible milestone for our business, an opportunity for our Team Members and a testament to the hard work and legacy of Pete and Wilma Veldman. We're thrilled to become a part of Discount Tire, a company that serves customers through an Inviting, Easy, and Safe experience while also taking care of and valuing their Team Members."

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Comments
Javelin (Forum Supporter)
Javelin (Forum Supporter) GRM+ Memberand MegaDork
12/3/21 7:04 p.m.

Nipped you by almost 2 hours wink

maj75 (Forum Supporter)
maj75 (Forum Supporter) Dork
12/3/21 7:25 p.m.

Great press release, but how long will that arrangement last?  In how many of these "takeovers" in the past, has the company "taken over" thrived?

Olemiss540
Olemiss540 HalfDork
12/3/21 7:26 p.m.

Who's e30 m3 is that?

Captdownshift (Forum Supporter)
Captdownshift (Forum Supporter) GRM+ Memberand MegaDork
12/3/21 7:28 p.m.

I wonder how this is going to affect the development of the Tire Rack ASAP mobile installation service. 

Woody (Forum Supportum)
Woody (Forum Supportum) GRM+ Memberand MegaDork
12/3/21 8:09 p.m.

My tires just got more expensive. sad

For 20 years, I bought from Tire Rack exclusively. Then they built a warehouse in my state and, subsequently, we had to start paying sales tax on the tires. So I switched to Discount Tire, exclusively. Now it looks like they own a warehouse in my state. sad

In reply to Woody (Forum Supportum) :

Me too.  I've picked up several sets from Windsor Locks but recently have ordered tires/wheels from DTD.

Both great organizations, I hope that TR continues to support SCCA and DTD stays with NASCAR. 

pointofdeparture
pointofdeparture GRM+ Memberand UltimaDork
12/3/21 8:26 p.m.

I've had good experiences with both vendors but Discount Tire's site totally sucks compared to Tire Rack's, and their wheel/tire fitment calculator was making some bizarre errors when I was shopping for my NC. They lost a sale on a $1200 set of wheels because the site literally would not let me order them.

Hopefully this acquisition introduces good synergies instead of bringing out the worst aspects of each company.

stuart in mn
stuart in mn MegaDork
12/3/21 8:45 p.m.

I have no experience with Discount Tire but I've always been happy with The Tire Rack.  I hope that doesn't change.

z31maniac
z31maniac MegaDork
12/3/21 8:51 p.m.

I was always a Tire Rack person. 

Not sure how I feel about this.

sleepyhead the buffalo
sleepyhead the buffalo GRM+ Memberand Mod Squad
12/3/21 8:59 p.m.

I gotta say: the term "omnichannel", or the number of times it was used in the above, doesn't fill me with the "feel goods"

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