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Tire Rack
Tire Rack is a privately owned customer-direct tire, wheels, car accessories distributor company headquartered in South Bend, Indiana. In 2021 it was acquired by Discount Tire and continues to operate as a separate business and brand name. HistoryIn 1979, automotive parts and service business owner Peter "Pete" Veldman came up with his business idea for the Tire Rack after his son-in-law Mike Joines was frustrated when he couldn't find tires for his Opel Manta sports coupe. Mike recommended that they start a mail-order tire company that stocked a few of every tire. Although Pete convinced Mike to help him open a retail store instead, they had so many phone orders that they eventually shut down the retail location and opened more phone lines.[1] Three years after opening the store, Tire Rack got into the mail order business and by 1990 the store was shut down.[2] In 1995, Tire Rack began its website where it posted reviews of tires it sold.[2] In 1998, Tire Rack began online sales.[3] Since 1995, Tire Rack has been the title sponsor of the National Sports Car Club of America (SCCA) Solo Program, a club that allows driving enthusiasts to compete at a local level. By 2005, Tire Rack had grown into a nationwide company that distributes more than 2 million tires annually.[4] The company now offers 24 tire brands and has ten warehouses in nine states.[3][5] Customers who pick up orders from a warehouse location are offered a discount. After 26 years of being a privately-owned family company, Los Angeles-based investment group Leonard Green & Partners purchased a 49% stake in the company with the Veldman family controlling the majority 51%.[6] Pete Veldman died on March 14, 2014, at the age of 87.[7] Pete's son-in-law Mike Joines succeeded him as president. On December 4, 2021, Discount Tire acquired Tire Rack for an undisclosed amount.[8] References
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