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Love’s
Travel Stops Acquires Speedco
from
Bridgestone Americas
|
Speedco acquisition
complements
Love’s Truck
Tire Care services and adds 52 new locations
|
Oklahoma
City, OK – September 2017 / Newsmaker Alert / Love’s
Travel Stops & Country Stores (Love’s) and Bridgestone Americas,
Inc. have reached an agreement for Love’s to purchase Speedco, a national
network of service locations that provides quick lube and inspection services
to the trucking industry. The transaction is subject to regulatory approvals
and certain other closing conditions.
The
acquisition will combine two hallmark brands in the highway service industry
and will add 52 trucking service and lube locations to the Love’s network,
bringing the number of Love’s operated tire service and lube facilities
to 323.
Love’s
has developed its Truck Tire Care service to become an industry leader
over the past decade starting with new tire sales and more recently adding
oil change, lube and light mechanical services at most of its larger travel
stops across the country.
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“The
Speedco organization shares our commitment to providing reliable, high-quality
and convenient services to truck drivers and fleets across the country,”
said Tom Love, founder and executive chairman for Love’s Travel Stops &
Country Stores. “The addition of the Speedco locations to Love’s is an
important step in continuing to provide the highest standard of service
to the trucking industry.”
For
more than 25 years, Speedco has focused on providing the trucking industry
with high-speed preventative maintenance services, becoming a leader in
lube services at highway locations across the United States. Since 2007,
Speedco has operated as a subsidiary of Bridgestone Americas, a leading
provider of best-in-class tire and rubber products and services around
the world.
“Speedco
is a strong commercial retail service business, and Love’s is the right
partner to build on Speedco’s success and ensure a great future for Speedco
employees,” said Bill Thompson, Chief Operating Officer, Bridgestone Americas.
“We are excited to continue our relationship with Love’s as a valued partner
in the strong Bridgestone distribution network.”
Prior
to closing, Speedco and Love’s will continue to operate as separate companies.
During this transition period, Speedco will conduct business as usual with
a continued focus on meeting the needs of customers.
About
Love’s Travel Stops & Country Stores, Inc.
Love’s
Travel Stops & Country Stores is headquartered in Oklahoma City, Oklahoma.
Founded in 1964, Love’s has more than 430 locations in 41 states. Love’s
provides professional truck drivers and motorists with 24-hour access to
clean and safe places to purchase gasoline, diesel fuel, travel items,
electronics, and more, as well as a selection of restaurant offerings.
On-site Love’s Truck
Tire Care centers offer roadside assistance, tire care and light mechanical
services for professional truck drivers. Showers, CAT scales and other
services for professional truck drivers are also available. Love’s, which
remains family-owned and operated, employs more than 17,000 people. To
learn more, visit Loves.com.
About
Bridgestone Americas, Inc.
Nashville,
Tennessee-based Bridgestone Americas, Inc. (BSAM) is the U.S. subsidiary
of Bridgestone Corporation, the world’s largest tire and rubber company.
BSAM and its subsidiaries develop, manufacture and market a wide range
of Bridgestone, Firestone and associate brand tires to address the needs
of a broad range of customers, including consumers, automotive and commercial
vehicle original equipment manufacturers, and those in the agricultural,
forestry and mining industries. The companies are also engaged in retreading
operations throughout the Western Hemisphere and produce air springs, roofing
materials, and industrial fibers and textiles. The BSAM family of companies
also operates the world’s largest chain of automotive tire and service
centers. Guided by its One Team, One Planet message, the company is dedicated
to achieving a positive environmental impact in all of the communities
it calls home.
Love’s
Media Contacts:
Kealey
Dorian (Primary)
Office:
405-302-6730
Mobile:
405-568-9035
Kyla
Turner (Alternate)
Office:
405-242-2478
Mobile:
405-365-6859
or
Bridgestone
Americas, Inc.
Communications
Department
Media
Center: 877-201-2373 |
