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Oregon-based Les Schwab tire company looking for a buyer

Les Schwab

BEND, Ore. (AP) - Les Schwab, the Bend tire powerhouse known for its customer service, is considering a sale.

The Oregonian/OregonLive reports the privately held company confirmed Tuesday it had hired hired Goldman Sachs to find a buyer. It didn’t disclose a potential buyer or expected price tag.

Bloomberg News reported earlier that the company expected it could fetch a price of at least $3 billion.

It’s a historic, and surprising, move for the business. Long after Les Schwab founded his company in 1952, he said he had no interest in passing control of the company to anyone outside his family.

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