KENILWORTH, N.J. ‒ FlexiVan announced that it has reached a definitive agreement with New Pride Corporation to purchase substantially all the assets of its intermodal tire division. Closing is expected to take place late-August. FlexiVan will continue all tire operations at the following New Pride® locations
- Oakland, CA – the corporate headquarters, as well as the tire mounting and distribution facility;
- Rancho Dominguez, CA – the tire retreading plant, distribution facility and administrative offices; and
- Kenilworth, NJ – the tire distribution and service center (currently located at FlexiVan’s corporate headquarters).
Charlie Wellins, President & Chief Operating Officer, states that “We have enjoyed a strong vendor partnership with the New Pride team for many years, and we look forward to expanding operations while building greater value for our customers and FlexiVan. ”
Mohsen Ansari, President of New Pride Corporation comments that, “We are also very excited to move forward with this transaction. The added FlexiVan resources and industry expertise will enable us to expand our customer base and service offerings.”
The parties anticipate a seamless transition, and the New Pride® management team will continue to run the day-to-day operations of the tire business as a wholly-owned subsidiary of FlexiVan.