Mavis Discount Tire
| File:Mavis logo.jpg Mavis Discount Tire Logo | |
| Subsidiary | |
| ISIN | 🆔 |
| Industry | Automobile service |
| Predecessor | Vic's Cycle Shop (1949–1972) |
| Founded 📆 | 1972 |
| Founder 👔 | Marion and Victor Sorbaro |
| Headquarters 🏙️ | , Millwood, New York, U.S. , U.S. |
Number of locations | 857 (2020) |
Area served 🗺️ | United States |
Key people | David Sorbaro (CEO) |
| Products 📟 | Automobile tires |
| Services | Tire repair, brakes, mufflers and exhaust, wheel alignments, shocks, struts installation, suspension, mandated inspections, oil changes, battery replacement, tire-pressure monitoring system replacement, wiper blades |
| Revenue🤑 | US$979 million (2021) |
| Owner | BayPine TSG Consumer Partners Golden Gate Capital |
| Members | |
Number of employees | 4,500 (2021) |
| Parent | Mavis Tire Express Services Corp |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Mavis Tire Supply LLC d/b/a Mavis Discount Tire is an American chain of automotive service centers headquartered in Millwood, New York. In 2021 it was purchased by BayPine LP for $6 billion.[1] In 2021 it acquired 165 Tuffy Tire & Auto locations in the Midwest, South and Southeast.[2][3] Tuffy had its headquarters in Toledo, Ohio. The combined companies company had 1,200 locations in 35 states.[2] In 2023 the company acquired 595 NTB and Tire Kingdom retail locations from TBC.[4][5] In 2023 the company was a primary sponsor for NASCAR race car driver Denny Hamlin.[6]
History[edit]
Mavis Discount Tire was founded in 1949 as Vic's Cycle Shop by brothers Marion and Victor Sorbaro. The business repaired bicycles sold from a neighboring toy shop. The shop quickly grew in popularity due to performing difficult bicycle repairs.
In 1968, due to the success of the business, Marion and Victor built a 7,000 square foot tire center, also located in Millwood. By 1971 the chain grew to three stores. The operating name was changed to Mavis Tire Supply in 1972, due to corporate wanting "a more professional image". The name Mavis is derived from the first two letters of the brothers names, and the first letter of their last name (Marion and Victor Sorbaro)[7]
In March 2021, the combined company of Mavis Tire Express Services was acquired by an investor group led by BayPine, TSG Consumer Partners and West First Management.[8] The previous lead financial partner, Golden Gate Capital, also retained a minority interest in the company. As of March 2021, the company operates over 1,100 locations across the Northeast, Midwest and Southern United.
Mergers and Acquisitions[edit]
In July 2015 Mavis Discount Tire agreed to purchase Somerset Tire, better known as STS Tire & Auto Centers. STS tire has 155 retail locations and seven wholesale centers, across New Jersey, eastern New York and eastern Pennsylvania. Since the acquisition some STS tire locations have been rebranded under the Mavis Discount Tire name.[9]
Lawsuits[edit]
In 2022 it reached a settlement in Georgia over allegations it defrauded customers.[10][11]
References[edit]
- ↑ Roumeliotis, Greg; Franklin, Joshua (2021-03-02). "New buyout firm BayPine close to $6 bln Mavis Tire acquisition-sources". Reuters – via Nasdaq.
- ↑ 2.0 2.1 Winer, Madeleine (December 17, 2021). "Mavis Tire Express Acquires Tuffy Tire & Auto's 165 Locations". Tire Review Magazine.
- ↑ "Mavis acquires Tuffy, expands reach to 35 states | Tire Business".
- ↑ Floyd, Jasmine (June 1, 2023). "Palm Beach County company divests retail business, sells nearly 600 tire centers". South Florida Business Journal.
- ↑ "TBC Corporation sells 595 NTB and Tire Kingdom centres to Mavis". Tyrepress. May 23, 2023.
- ↑ Hinton, Christian (July 28, 2023). "Denny Hamlin's No. 11 Toyota Camry to Carry Mavis Sponsorship". Tire Review Magazine.
- ↑ "About Us - Company History". Mavis. Apr 11, 2019. Retrieved May 24, 2019.
- ↑ "New buyout firm BayPine close to $6 billion Mavis Tire acquisition: sources". Reuters. March 2, 2021. Retrieved May 24, 2019.
- ↑ Staff, Tire Review (2015-07-17). "Mavis Discount Tire to Double Size with STS Acquisition". Tire Review Magazine. Retrieved 2023-08-03.
- ↑ Evans, Sean (April 6, 2022). "Customers seeking reimbursement after Mavis Tire settlement". WTOC-TV. Savannah, Georgia.
- ↑ WTOC Staff (April 5, 2022). "Mavis Tire Supply enters settlement after allegations of deceptive practices". WTOC-TV. Savannah, Georgia.
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