Love’s Travel Stops & Country Stores is purchasing a national chain of truck service centers.
Love’s agreed to acquire Bridgestone Americas, Inc.’s Speedco, which operates 52 service locations providing quick lube and inspection services to the trucking industry. The transaction is subject to regulatory approvals and certain other closing conditions, according to a statement from Love’s. Terms of the deal were not disclosed.
“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.”
Since 2007, Speedco has operated as a subsidiary of Bridgestone Americas, a provider of 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.”
Until the sale closes, Speedco and Love’s will continue to operate as separate companies.
Nashville, Tennessee-based Bridgestone Americas, Inc. is the U.S. subsidiary of the Bridgestone Corporation, the world’s largest tire and rubber company.
