Dob’s Tire to Buy Parnelli Jones Chain

Ventura-based Dob’s Tire & Auto Centers is acquiring the entire Parnelli Jones chain of tire stores, but will operate all 94 units of the combined firm under the former racing driver’s name.

The merger, to be completed in late October, will create a chain with annual sales of more than $80 million in six states, said Daniel Beach, Dob’s president and chief executive.

He declined to give the terms of the deal, but said that he will head the merged company and that it will be headquartered in Ventura. Dave Witten, currently president of Parnelli Jones, based in Compton, will be chief operating officer.

Jones, a former winner of the Indianapolis 500, sold his interest in the company he founded several years ago, Beach said.

An employee stock ownership plan now in effect at Parnelli Jones will be expanded to include the entire new company, Beach said.