From Tire Review
American Tire Distributors (ATD) has entered into an agreement and plan of merger with Hercules Tire & Rubber Co., according to an 8-K form filed with the Securities Exchange Commission on Jan. 24. 
According to the report, ATD plans to buy the tiremaker for $310 million, with the deal closing by the end of January. An additional $10 million could be paid “contingent upon the occurrence of certain performance-related and other post-closing events.”
The deal is expected to be funded by a combination of issuance of additional debt, equity contributions from ATD’s indirect parent, and borrowing under ATD’s credit, the filing states.
To see the full filing, click here.
ATD operates 109 distribution centers across the U.S. and Canada. Hercules Tires operates four divisions – Hercules Tire USA, Hercules Tire Canada, Tire Dealer’s Warehouse and Hercules Tire International.
