Love's to Acquire Speedco Network of Truck Service Locations
OKLAHOMA CITY — Love's Travel Stops & Country Stores will purchase Speedco, a national network of service locations that provides quick lube and inspection services to the trucking industry, from its parent company Bridgestone Americas Inc.
The deal will add 52 trucking service and lube locations to the Love's network, bringing the total number of Love's-operated tire service and lube facilities to 323 sites.
The acquisition continues Love's development in its Truck Tire Care Service, which started out with new tire sales and has more recently added oil change, lube and light mechanical services at most of its larger travel stops across the United States.
"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, Love's founder and executive chairman. "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."
Nashville-based Speedco has provided the trucking industry with high-speed preventative maintenance services for more than 25 years, and has operated as a Bridgestone Americas subsidiary since 2007.
"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."
The transaction is subject to regulatory approvals and certain other closing conditions. Prior to the closing, Love's and Speedco will continue to operate as separate companies and conduct business as normal.
Based in Oklahoma City, Love's Travel Stops & Country Stores has more than 430 locations in 41 states.