Les Schwab’s Board and Shareholders announced on Tuesday, September 29th, that they had reached an agreement to sell the nation’s highest-ranked, most customer-focused tire retailer to the California based family-owned investment firm Meritage Group.
“The decision to sell has always been about securing the long-term success of the company,” CEO Jack Cuniff said. “Meritage Group has a history of preserving culture and values while growing its companies with investment over time. This is a great fit and aligns well with Les’ vision and all we have built together.”
A Les Schwab family statement expressed confidence in Meritage Group to carry forward the Les Schwab vision far into the future.
“We are thrilled with this outcome. The Company’s long-term outlook, the opportunities for employees, and the tremendous importance of our customers will remain as Grandpa always imagined,” the family said. Award-winning customer service defines Les Schwab. You can count on us to be there, working to get you quickly and safely back on the road.
