Locally owned. Supported by members.

Les Schwab Tires, Idaho town staple, gains large new owner

Boise Centre is open
Idaho Business pres. by My 102.7

The stores in Les Schwab country have a new owner.

The Oregon-based tire chain went on the block last year as BoiseDev reported. It operates 49 stores across Idaho from Boise to McCall and Rigby to Bonners Ferry.

The Oregonian reports Meritage Group, a California-based investment fund made a deal to buy the tire retailer. Meritage, which is pronounced like heritage, is controlled by founder Nat Simmons. Simmons is a prominent climate change activist, according to the Oregonian.

Meritage controls more than $10 billion in investments, including Google, Microsoft, Salesforce and the company that owns Burger King.

Les Schwab dates to 1952 with a store in Prineville, OR. It steadily expanded over the years to more than 500 stores across the west with more than 7,000 employees. It often focuses on smaller towns and reaches deep into Idaho’s communities.

Schwab’s footprint in Idaho, with 49 stores.
- Story continues below ads -
Boise Centre is open
BRR Careers

Company founder and namesake Les Schwab died in 2007. His widow passed away in 2016. His heirs later decided to sell the comapny and earlier reporting indicated they hoped to fetch $3 billion from the sale. Meritage didn’t detail the terms of the sale with Schwab.

“As our family grows and ages, it has been very important to us to remain committed and aligned behind our grandfather’s vision,” the Schwab family said in a release. “While it was hard to make the decision to sell the Company, we are very confident Meritage Group will continue that commitment and alignment, and will build on all we have accomplished over the past 68 years.”

“We see Les Schwab Tires as an ideal investment,” Meritage’s Aubrey Barth wrote in a statement. “The company’s exceptional employees and programs, strong financials, and respected, customer-focused brand set it up for success for years to come.”

Meritage said the current Les Schwab leadership team will remain in place, but didn’t otherwise detail its plans for the stores.

Local news. Locally owned. Supported by members.

Your membership makes these stories possible. Plus, you get our popular daily email with all our stories delivered straight to you.

Don Day
Don is the founder and editor of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow.

Another Idaho resort (yes, another one) listed for sale

Another Idaho resort is for sale.  This time it's is the Sourdough Restaurant and Lodge right off of Highway...

Four Cushman & Wakefield team members leave to expand new Boise CBRE office

A team of four former employees of Cushman & Wakefield's local Boise office moved to a new firm this month. Jake Miller,...

Albertsons buys group of stores from bankrupt east coast chain, declares dividend

Albertsons Companies announced Wednesday it would buy up 27 new store locations in the mid-Atlantic region. It also announced a new cash...

Boise’s Clearwater Analytics announces large investment

Boise-based Clearwater Analytics, the Boise-based financial software solution company, landed a new set of investment. In August, BoiseDev told...

Popular

Hot food delivered? Local cloud kitchen startup Crave adds restaurants – and a pickup option

Crave Delivery, a Boise-based tech startup that aims to bring a collection of cloud kitchens together for home delivery, launched part of...

Eagle business boom: Donuts, bar, coffee, bakery, shops and restaurants come to booming area

Eagle continues its fast growth spurt, with scores of new stores and businesses welcoming customers in the city - as well as...

Another Idaho resort (yes, another one) listed for sale

Another Idaho resort is for sale.  This time it's is the Sourdough Restaurant and Lodge right off of Highway...

Local Ada elections bring in big money; Lachiondo outraises every candidate statewide

Donors are pouring big money into some Ada County elections in the hopes of shifting the balance...
Tamarack Resort Q4 2020

Related

Les Schwab on the block: Popular regional tire chain for sale

Maybe it comes with free beef? Bloomberg News reports Bend, OR-based Les Schwab Tire Centers is for sale. ...
Boise Centre is open


SERVPRO Certified

Latest

Another Idaho resort (yes, another one) listed for sale

Another Idaho resort is for sale.  This time it's is the Sourdough Restaurant and Lodge right off of Highway...

Hot food delivered? Local cloud kitchen startup Crave adds restaurants – and a pickup option

Crave Delivery, a Boise-based tech startup that aims to bring a collection of cloud kitchens together for home delivery, launched part of...

‘No shortage of holiday cheer:’ Winter Garden will (a)glow again – with some changes

2020 has been a long year and maybe you’re in the mood for some holiday cheer.  The Idaho Botanical...

Eagle business boom: Donuts, bar, coffee, bakery, shops and restaurants come to booming area

Eagle continues its fast growth spurt, with scores of new stores and businesses welcoming customers in the city - as well as...

Local Ada elections bring in big money; Lachiondo outraises every candidate statewide

Donors are pouring big money into some Ada County elections in the hopes of shifting the balance...

Wepa!: Puerto Rican restaurant coming soon to Garden City

Puerto Rican cuisine lovers can now say "Wepa!" to the new restaurant being built in Garden City. "Wepa!"...