Yokohama Corporation of North America (YCNA) is selling Friend Tire Company (FTC), a wholly-owned subsidiary of YCNA, to Southern Tire Mart (STM), the companies announced.
The agreement was finalized on April 1. Sales of the Yokohama brand through FTC have been transferred to STM and include all the rights and access that were afforded to FTC, the company said.
“Yokohama and Southern Tire Mart have enjoyed a long-term relationship in the U.S. market,” said Jeff Barna, president and CEO 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,” said 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.”