Singapore-based tire designer and manufacturer, Omni United Pte. Ltd. has announced its acquisition of Interstate Tire Distributor (ITD), the tire wholesale distributor based in Commerce, California. Terms of the transaction have not been disclosed.
“The acquisition of ITD is the next step in the evolution of Omni United as a tire designer and marketer and it will reinforce our presence in our core market, the United States,” said G.S. Sareen, CEO of Omni United. ”We are excited about the opportunity for growth, learning and innovation that this move towards vertical integration will present.”
ITD was founded in Los Angeles, California, in 1963. Since then, the company has grown throughout Southern California and across the Southwestern United States to service 2,500 tire retailers in the western part of the U.S. The company operates six locations, including three in Southern California (Commerce, San Bernardino and Fullerton), one in Arizona (Phoenix), one in Utah (Salt Lake City) and one in Nevada (Las Vegas).
ITD focuses on distributing leading mid-tier brands such as Toyo, Nexen and Yokohama, in addition to value-driven brands such as Mastercraft, Duro, Atturo and Goodride, (the latter, part of Omni United’s portfolio). Following the acquisition, ITD also will distribute other Omni United brands, including the recently launched Timberland Tires, the tire brand launched in partnership with outdoor lifestyle and footwear brand, Timberland.
The three principals of ITD, John Farkas, Scott Simpson,and Matt Seavers will remain on as senior leadership, running the day-to-day operations.
“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 wants to grow ITD’s existing business into a much larger company, with larger warehouse facilities and additional product offerings.”