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Singapore-based Omni acquires US tyre wholesale distributor
SINGAPORE-HEADQUARTERED Omni United has acquired US tyre wholesale distributor Interstate Tire Distributor (ITD) for an undisclosed amount.
The acquisition will allow Omni to more than double its existing retail reach in the US, where it chalks up nearly 65 per cent of its revenue.
California-based ITD, which was established in Los Angeles in 1963, has since expanded throughout southern California and the US Southwest, serving over 2,500 tyre retailers in the US. It distributes mid-tier brands such as Yokohama as well as value-driven brands such as Goodride.
"The acquisition of ITD is another important strategic step in the evolution of Omni United as a tire designer and marketer and it will reinforce our presence in our core market, the USA," said Omni United's chief executive GS Sareen.