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Les Schwab Tires confirms plans to sell company

Les Schwab Tires confirmed Tuesday that company owners are looking to sell the business.

Posted: Dec 24, 2019 2:24 PM
Updated: Dec 24, 2019 3:50 PM

EUGENE, Ore. -- Les Schwab Tires confirmed Tuesday that company owners are looking to sell the business. 

“Our incredible Tire Centers, and the company and communities we have built together, make us proud,” Les’ family said in a statement. “As hard as it is to make the decision to sell this company, we are confident it will offer tremendous opportunity to build on all we have accomplished together for our customers, communities and our employees. We are excited to see what the future will bring.”

News of the sale was first reported by Bloomberg who said the company could be sold for as much as $3 billion. 

The last time Les Schwab considered a sale was in 2006, to suitors including KKR & Co. and French tire magnate Francois Michelin, the Oregonian reported in 2006.

Les Schwab opened its first location in 1952 and has since expanded to multipe states and hundreds of locations. 

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