Yokohama Rubber sells US wholesale subsidiary
All sales of Yokohama brand tyres through FTC have now been transferred to STM (Photo: FTC)
Yokohama Corporation of North America (YCNA) has sold the assets of Missouri-based tyre wholesaler Friend Tire Company (FTC) to tyre dealer network and retreader Southern Tire Mart (STM). The agreement was finalised on 1 April 2023.
FTC was a wholly owned subsidiary of YCNA, in turn a wholly owned subsidiary of Japan’s Yokohama Rubber Co. Ltd. All sales of Yokohama brand tyres through FTC have now been transferred to STM and include all the rights and access that were afforded to FTC.
“Yokohama and Southern Tire Mart have enjoyed a long-term relationship in the US market,” says Jeff Barna, president and chief executive officer of Yokohama Tire Corporation. “We are proud to have completed this agreement with a trusted partner and one that is certain to improve upon Friend Tire’s legacy.”
“Yokohama has been a long-standing, valued partner,” comments Southern Tire Mart co-owner Jim Duff. “We’ve known about Friend Tire’s solid reputation for a long time and this agreement will definitely help expand our strategic footprint.”
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