Del-Nat Tire Corp. has announced a new company stockholder, Mark Welden, principal owner of Greer Tire in Milwaukee.
Welden becomes the 81st stockholder in Del-Nat, a major tire distributor that operates as a cooperative with a network of dealers and distributors. It was founded in Memphis, Tennessee, in 1989.
Greer Tire was founded in 1983 when Pat Greer began selling tires out of the basement of his home and grew it to an 11,500-square-foot warehouse. Welden bought the company from Greer when he retired in 2010.
The warehouse has since expanded to its current 20,000 square feet. About 90% of Greer Tire's business is wholesale.
"I see exceptional value in the Del-Nat program," Welden says. "It provides us with a different price point and its catalog of brands and products will allow Greer Tire to enter additional markets that our company does not currently service."
Welden says he will utilize Del-Nat's Direct Distributor Program to gain additional exposure in Wisconsin and the western half of Michigan's Upper Peninsula. He also said he appreciates the exclusivity Del-Nat gives its stockholders.
Del-Nat Tire, which has annual sales of more than $200 million, offers each stockholder protected territories under one or more of the Del-Nat brand names: Delta and National passenger, light-truck and SUV tires; Chaparral light truck lines; as well as Akuret commercial tires for farm, OTR, truck and trailer applications.
"The continued growth of our stockholder base coupled with a very solid financial picture have given Del-Nat strong momentum going into the second half of the calendar year," says Randy Gaetz, vice president of sales and marketing at Del-Nat.
"We are seeing that more and more dealers are looking to join Del-Nat in order to maintain their independence. Del-Nat is committed to keeping the independent tire dealer independent."
