Myers Industries, Inc. filed a Current Report on Form 8-K with the SEC on August 31, 2026, disclosing the completed sale of its Myers Tire Supply, LLC subsidiary to TAPS Holdings, LLC for aggregate consideration of $30,000,000.

Key Highlights

  • Sale price: Myers Industries sold all issued and outstanding membership interests of Myers Tire Supply, LLC for aggregate consideration of $30,000,000, subject to customary post-closing adjustments.
  • Buyer: TAPS Holdings, LLC, a Delaware limited liability company, purchased the membership interests under a Membership Interest Purchase Agreement.
  • Divested subsidiaries: The sale includes Myers Tire Supply Distribution, LLC, DSS Direct, LLC, and MyersTireSupply.com, LLC, all Delaware limited liability companies.
  • Business divested: The Group Companies operated the company's North American tire supply distribution division, distributing tools, supplies, and automotive shop equipment for the tire, wheel, and under-vehicle service industries.
  • Non-compete period: The company agreed to non-competition and non-solicitation restrictions for 36 months following the closing date, subject to certain carve-outs.
  • Warranty insurance: The buyer obtained a buyer-side representation and warranty insurance policy, at the buyer's expense, as the primary source of recovery for covered breaches of representations and warranties.

Myers Industries Completes Divestiture of North American Tire Supply Distribution Business

According to the filing, Myers Industries, Inc. (NYSE:MYE), headquartered at 1293 South Main Street, Akron, Ohio, entered into and closed a Membership Interest Purchase Agreement on August 31, 2026. Under the agreement, the company, acting as seller, transferred all issued and outstanding membership interests of Myers Tire Supply, LLC to TAPS Holdings, LLC. The filing states that the Purchase Agreement "has been duly and validly authorized by all requisite corporate and similar actions by all parties."

The filing discloses that the aggregate consideration for the sale is $30,000,000, subject to customary post-closing adjustments for cash, indebtedness, net working capital, and transaction expenses as further specified in the Purchase Agreement. The Group Companies - comprising Myers Tire Supply, LLC and its three subsidiaries - "have historically operated the Company's North American tire supply distribution division," according to the filing, which encompassed distribution of tools, supplies, and automotive shop equipment for the tire, wheel, and under-vehicle service industries.

The filing notes that in connection with the sale, the company agreed to non-competition and non-solicitation restrictions for 36 months following the closing date. Carve-outs to those restrictions include activities conducted by Myers Tire Supply International, Inc. (Ohio), Myers de El Salvador S.A. de C.V., Orientadores Comerciales S.A. (Guatemala), Myers de Panama S.A., Myers TSCA, S.A. (each solely within their respective jurisdictions), and Patch Rubber Company (North Carolina). The filing also discloses that the buyer obtained a representation and warranty insurance policy at the buyer's expense. A press release announcing the transaction was also issued on August 31, 2026, and is attached as Exhibit 99.1 to the filing. Statements in the filing regarding future plans are characterized by the company as forward-looking and subject to its cautionary language.

What Was Disclosed

Myers Industries reported the August 31, 2026 completed sale of its Myers Tire Supply, LLC subsidiary and related entities to TAPS Holdings, LLC for $30,000,000 in aggregate consideration, subject to post-closing adjustments, along with a 36-month non-compete commitment.