Massachusetts-based Sullivan Tire sells business to their employees
NORWELL - Sullivan Tire is staying in the hands of the New Englanders who made it successful, as the family who owns the business just sold it to their employees.
Through the employee stock ownership plan, 1,500 workers will take over Sullivan Tire.
"We are honored and proud that the future of Sullivan Tire will be shepherded by the people who have all played a role in helping us accomplish the brand recognition that is prevalent throughout New England," said Vice Chair Paul Sullivan in a statement. He and Chairman of the Board Robert Sullivan will remain with the company, with Joseph Zaccheo as president and CEO.
Sullivan Tire, which is based in Norwell, has 79 locations across New England.
