The David Early Tire Co. chain will be converted to Firestone Tire & Service Centers after the 18-store group changes ownership.
Illinois-based BFS Retail & Commercial Operations LLC said Thursday it has agreed in principle to acquire certain assets of David Early Tire, making way for the conversion.
Financial terms were not disclosed.
Salt Lake-based David Early Tire was started by David Early Sr. in 1973 and grew from a single store in Salt Lake. The privately held company opened its last store in 2002. Modern Tire Dealer indicates it is the 63rd-largest independent tire retailer and has 136 employees.
"I have never worked with a better tire company or group of people than those at Bridgestone Firestone," Early said in a prepared statement. "BFRC is an ideal strategic partner because we share similar corporate cultures and we are working toward the same goals and objectives."
Early teamed with BFRC's sister company, Bridgestone Firestone North American Tire LLC's BFNT, starting in 1996. David Early Tire & Service Centers sell several tire brands, including Bridgestone and Firestone.
BFRC said it will have a grand reopening after the store conversions are completed early this fall, giving it a total of 24 locations in northern Utah.
"This agreement will enable BFRC to strengthen its presence and further develop its position in the Salt Lake City marketplace," Larry Magee, BFRC's chairman, chief executive officer and president, said in a prepared statement. "Both companies share the philosophy that the men and women who make up the organization create the company's success."
Early will move on to work with son David Early Jr. on another business the family owns and operates, Early Holdings LLC. It will be involved in real estate and development opportunities in Utah and Nevada.
BFS Retail & Commercial Operations operates more than 2,200 consumer and commercial tire and vehicle service locations across the United States and Canada, plus its own credit card operations. Stores operate under several names, including Firestone Tire & Service Centers, Tires Plus, Expert Tire, Commercial & Farm, GCR Truck Tire Centers and Mark Morris. GCR Truck Tire Centers offer truck tire sales, service and retreading outlets for truck and bus, off-the-road and agricultural tires.