K&M Tire, Inc. and Becker Tire and Treading, Inc., headquartered in Great Bend, announced today that they have signed a Letter of Intent for K&M to acquire Becker Tire. The transaction is expected to close at the end of February 2017.
Ken Langhals, President and Founder of K&M said, “We are excited about the opportunity to add Becker Tire and its entire team of dedicated employees to the K&M Tire team. We have admired Becker Tire from afar over the years, beginning with Harold Becker and later his son Wayne and son-in-law, Larry Sisson. Their long history of family ownership is very similar to our own.”
K&M operates 20 distribution centers from Ohio to the Dakotas and down to Texas. Becker has its primary distribution center in Great Bend along with a Bandag retread facility. The original retail store remains in Great Bend with another seven retail outlets located across the state of Kansas. K&M will retain the wholesale business, whereas the retail stores and retread shop will continue to serve customers while operating separately under different ownership.
“This is a very exciting time for Becker and we are thrilled to be able to continue serving our customers in Kansas and the surrounding states,” said Gary Albright, President and CEO of Becker Tire. “With the backing and strength of K&M, this will only enhance and accelerate the growth of the combined business in Kansas and the neighboring states.”
The Becker family view K&M as the right partners and this the right opportunity for Becker to continue its legacy in the tire business. They all agree the benefits of joining a strong industry player such as K&M is a tremendous opportunity for Becker and all of our employees, as the tire industry continues to consolidate and face larger and financially stronger competition.