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Along with these company-owned stores and Bridgestone's more than 5,000 long-standing dealers and distributors in the United States, the Pep Boys' network represents an immediate expansion for BSRO, and accelerates the global growth strategy of Bridgestone Corp.
BSRO, a subsidiary of Bridgestone Americas, is one of only three organisations in the transportation industry honoured in 2018 for educational excellence by the ASE Training Managers Council.
Joe Venezia, president, BSRO, said, 'By equipping and empowering our employees to deliver best-in-class service across our 2,220 stores, the BSRO Tech Foundations Workshop supports our vision to be the most trusted provider of tyre and automotive service in every neighbourhood we serve.
The acquisition represents an immediate nationwide expansion of more than 35 % for BSRO. The transaction is expected to close in the beginning of 2016.
Under the terms of the agreement, which has been unanimously approved by the boards of both Bridgestone and Pep Boys, a wholly owned subsidiary of BSRO will commence a tender offer for all outstanding shares of Pep Boys at USD 15.00 per share in cash.
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