Tire Rack |
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Official Site: TireRack.com
Wikipedia: Tire Rack Sponsored Events Tire Rack One Lap of America Page Sections History Article Index |
History
The following section is an excerpt from Wikipedia's Tire Rack page on 20 August 2020, text available via the Creative Commons Attribution-ShareAlike 3.0 Unported License.
Tire Rack is a customer-direct tire, wheels, car accessories distributor headquartered in South Bend, Indiana.
In 1979, automotive parts and service business owner Peter "Pete" Veldman came up with his business idea for the Tire Rack after his son-in-law Mike Joines was frustrated when he couldn't find tires for his Opel Manta sports coupe. Mike recommended that they start a mail-order tire company that stocked a few of every tire. Although Pete convinced Mike to help him open a retail store instead, they had so many phone orders that they eventually shut down the retail location and opened more phone lines. Three years after opening the store, Tire Rack got into the mail order business and by 1990 the store was shut down.
In 1995, Tire Rack began its website where it posted reviews of tires it sold. In 1998, Tire Rack began online sales.
By 2005, Tire Rack had grown into a nation-wide company that distributes more than 2 million tires annually. The company now offers 24 tire brands and has ten warehouses in nine states. Customers who pick up orders from a warehouse location are offered a discount.
After 26 years of being a privately-owned family company, Los Angeles-based investment group Leonard Green & Partners took a 49% stake in the company with the Veldman family controlling the majority 51%.
Pete Veldman passed away on March 14, 2014 at the age of 87. Pete's son-in-law Mike Joines succeeded him as president.
| Date | Article | Author/Source |
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| 14 April 2016 | Tire Rack Returns as Title Sponsor of the One Lap of America | Tire Rack One Lap of America |