Last Updated on November 5, 2023 by Robert C. Hoopes
Sullivan Tire, a renowned family-owned business based in Norwell, Massachusetts, has recently undergone a significant change in ownership. In a historic move, the company has been sold to its employees through an employee stock ownership plan (ESOP), making 1,500 workers the proud owners of Sullivan Tire.
Vice Chair Paul Sullivan expressed his honor and pride in the fact that the future of the company will now be steered by the very employees who have played a crucial role in its success and brand recognition throughout New England. This employee-led ownership structure is expected to further strengthen the company’s dedication to delivering exceptional quality and service to its customers.
The astounding transition in ownership will not dim the presence of the current Chairman of the Board, Robert Sullivan, and Vice Chair Paul Sullivan, as they will remain involved in the company following the sale. Their continued involvement demonstrates their ongoing commitment to preserving the values and principles that have guided Sullivan Tire throughout its long-standing history.
To lead the company into its next chapter, Joseph Zaccheo has been appointed as the president and CEO of Sullivan Tire. Zaccheo brings with him a wealth of experience and expertise, and he is poised to lead the company to new heights in the highly competitive tire and automotive service industry.
As an established player in the market, Sullivan Tire has a robust presence in New England with an expansive network of 79 locations across the region. This strategic reach enables the company to cater to a wide range of customers, ensuring convenience and accessibility for those in need of their top-notch services.
The sale of Sullivan Tire to its employees marks a significant milestone in the company’s journey. With a renewed sense of ownership and dedication, the 1,500 workers-turned-owners are poised to take Sullivan Tire to even greater heights of success, cementing its position as a leader in the tire and automotive service industry in New England.