COMERICA
BANK – MICHIGAN MARKET
The Michigan Market of Comerica Bank
includes 240 banking centers in metropolitan Detroit, Ann Arbor, Battle Creek, Grand Rapids, Jackson, Kalamazoo, Lansing, Midland and Muskegon. |
BELLE TIRE DISTRIBUTORS
If you live and work in Michigan, then you should be very familiar with this successful family retail business. Belle Tire has built a solid reputation for quality and service ever since it was established in 1922.
The company’s longstanding relationship with Comerica has been a key to the firm’s consistent growth; Belle Tire has been a Comerica customer for 57 years.
In 1994, Comerica Bank assisted Belle Tire with the buyout of Tire Man, its largest competitor. The strategy nearly doubled the number of Belle Tire’s retail stores.
“When we merged the two companies, that’s when things really started to pick up for us, because our larger size enabled us to increase our advertising and promotions,” says Don Barnes, Belle Tire president. “We also gained a tremendous amount of synergies by eliminating duplication, and that, in turn, allowed us to be more profitable and grow.”
Since then, Comerica has helped Belle Tire with other acquisitions. The company now has 81 locations with annual sales of more than $234 million. Currently, Comerica is financing Belle Tire’s new $8.0 million corporate headquarters in Allen Park, Mich. Belle Tire purchased the former Frito Lay building near its existing warehouse. Renovation of the facility was completed in the fourth quarter of 2006.
“Comerica has been a wonderful partner,” Barnes says. “Anytime we needed to take some type of new action to grow, Comerica was always there to help us. It’s a great relationship.”