OKLAHOMA CITY--(BUSINESS WIRE)--Love’s Travel Stops & Country Stores (Love’s) and Bridgestone Americas, Inc. have reached an agreement for Love’s to purchase Speedco, a national network of service locations that provides quick lube and inspection services to the trucking industry. The transaction is subject to regulatory approvals and certain other closing conditions.
The acquisition will combine two hallmark brands in the highway service industry and will add 52 trucking service and lube locations to the Love’s network, bringing the number of Love’s operated tire service and lube facilities to 323.
Love’s has developed its Truck Tire Care service to become an industry leader over the past decade starting with new tire sales and more recently adding oil change, lube and light mechanical services at most of its larger travel stops across the country.
“The Speedco organization shares our commitment to providing reliable, high-quality and convenient services to truck drivers and fleets across the country,” said Tom Love, founder and executive chairman for Love’s Travel Stops & Country Stores. “The addition of the Speedco locations to Love’s is an important step in continuing to provide the highest standard of service to the trucking industry.”
For more than 25 years, Speedco has focused on providing the trucking industry with high-speed preventative maintenance services, becoming a leader in lube services at highway locations across the United States. Since 2007, Speedco has operated as a subsidiary of Bridgestone Americas, a leading provider of best-in-class tire and rubber products and services around the world.
“Speedco is a strong commercial retail service business, and Love’s is the right partner to build on Speedco’s success and ensure a great future for Speedco employees,” said Bill Thompson, Chief Operating Officer, Bridgestone Americas. “We are excited to continue our relationship with Love’s as a valued partner in the strong Bridgestone distribution network.”
Prior to closing, Speedco and Love’s will continue to operate as separate companies. During this transition period, Speedco will conduct business as usual with a continued focus on meeting the needs of customers.
About Love's Travel Stops & Country Stores, Inc.:
Love’s Travel Stops & Country Stores is headquartered in Oklahoma City, Oklahoma. Founded in 1964, Love’s has more than 430 locations in 41 states. Love’s provides professional truck drivers and motorists with 24-hour access to clean and safe places to purchase gasoline, diesel fuel, travel items, electronics, and more, as well as a selection of restaurant offerings. On-site Love’s Truck Tire Care centers offer roadside assistance, tire care and light mechanical services for professional truck drivers. Showers, CAT scales and other services for professional truck drivers are also available. Love’s, which remains family-owned and operated, employs more than 17,000 people. To learn more, visit Loves.com.
About Bridgestone Americas, Inc.:
Nashville, Tennessee-based Bridgestone Americas, Inc. (BSAM) is the U.S. subsidiary of Bridgestone Corporation, the world's largest tire and rubber company. BSAM and its subsidiaries develop, manufacture and market a wide range of Bridgestone, Firestone and associate brand tires to address the needs of a broad range of customers, including consumers, automotive and commercial vehicle original equipment manufacturers, and those in the agricultural, forestry and mining industries. The companies are also engaged in retreading operations throughout the Western Hemisphere and produce air springs, roofing materials, and industrial fibers and textiles. The BSAM family of companies also operates the world's largest chain of automotive tire and service centers. Guided by its One Team, One Planet message, the company is dedicated to achieving a positive environmental impact in all of the communities it calls home.