Singapore-based Omni United Pte. Ltd. acquired Interstate Tire Distributor (ITD), a US tyre wholesale distributor based in California, USA.
ITD focuses on distributing mid–tier leading brands such as Toyo, Nexen and Yokohama, in addition to more value driven brands such as Mastercraft, Duro, Atturo and Goodride, (the later, part of Omni United’s portfolio).
The deal will boost significantly Omni United’s distribution network in the US, more than doubling its current retail reach. The US, the largest tyre market in the world, is where Omni United generates close to 65% of its revenues.
“The acquisition of ITD is another important strategic step in the evolution of Omni United as a tyre designer and marketer and it will reinforce our presence in our core market, the USA.” said GS Sareen, CEO of Omni United. ”We are excited about the opportunities for growth, learning and innovation that this move towards vertical integration in our industry will present. We are constantly looking at acquiring similar businesses in other US and international markets.”
“ITD is very pleased to become a part of Omni United, a company that shares the same philosophy and commitment to excellent service and high quality products.” said John Farkas, President of ITD.
Omni United’s plans for ITD include significantly expanding its existing business, by investing in larger warehouse facilities, increasing its geographical reach and launching additional product offerings. Following the acquisition, ITD will also distribute some of the other brands part of Omni United’s stable, including the recently launched, award-winning, Timberland Tires, the premium tyre brand that Omni United launched earlier in 2015 in partnership with outdoors lifestyle fashion and footwear brand, Timberland.