PALM BEACH GARDENS, Fla. (June 16, 2025) – TBC Corporation (“TBC”), a leader in the mobility industry and one of North America’s largest marketers of automotive replacement tires through wholesale and franchise operations, announced today that it has completed the divestment of its Midas franchise portfolio to Mavis Tire Express Services Corp. (“Mavis”) under the terms announced on March 31, 2025 and after obtaining all of the necessary approvals for the transaction.
Midas will continue to operate as a standalone brand under the Mavis platform and maintain its headquarters in Palm Beach Gardens, Florida.
TBC will continue to focus on driving growth and innovation in its wholesale and distribution business and expanding its Big O Tires franchise business.
Financial terms of the sale are not being disclosed.
Matrix Capital Markets Group, Inc., acted as the exclusive financial advisor to TBC and Venable LLP served as legal counsel. Jefferies LLC acted as the exclusive financial advisor to Mavis and Covington & Burling LLP served as legal counsel.
About TBC Corporation
TBC Corporation (TBC) is one of North America’s largest marketers of automotive replacement tires through wholesale and franchise operations. TBC serves wholesale customers in the United States, Canada, Mexico and South America, through TBC Brands, NTW, TBC International, and TBC de Mexico. Additionally, consumers receive total car care at nearly 500 franchised tire and automotive service centers under the Big O Tires® brand. For more information, visit tbccorp.com and follow TBC Corporation on LinkedIn.
About Midas
Midas is an award-winning franchise brand and leading provider of automotive repair and maintenance services at approximately 2,000 franchised and licensed Midas locations in nearly 20 countries, with approximately 1,200 across the United States and Canada. Midas is known for its industry-leading guarantees. Midas ranked number one in the Automotive Repair and Maintenance Services category in Entrepreneur’s 46th annual Franchise 500 ranking. For more information, visit midas.com.
