Ameritech Corp. will double the number of retail outlets it owns in the Chicago area by purchasing 24 stores from Triangle Stereo Inc., the firm said Wednesday.
Company officials said the move does not represent a new strategy to dramatically increase ownership of outlets where its products are sold, but stems from a one-shot opportunity to consolidate Ameritech’s retail presence in the area.
Triangle, which has been selling Ameritech products for a decade, has become the biggest distribution outlet for Ameritech products among stores the phone giant doesn’t own, said Jay Ellison, Ameritech Cellular’s vice president for Illinois and northwestern Indiana.
When Triangle’s owner wanted to sell the stores, Ameritech decided that it was a good opportunity for acquisition, Ellison said.
“Based on Triangle’s diverse locations and the quality of the organization, we felt this is a proper marriage,” Ellison said. “The owner felt that way, too.”
Triangle stores are scattered throughout the city, suburbs and northwest Indiana.
Harvey Loeb, Triangle’s president, said the sale “gives our employees the opportunity to grow their careers with the leader in wireless communications, Ameritech.”
Ameritech will attempt to keep as many of Triangle’s 150 employees as possible when it takes over the stores, Ellison said. The telecommunications giant will change the nature of Triangle stores over time, phasing out the automobile stereo systems and car alarms from the product line, he said.
“Wireless and paging products will continue to be the kingpin in these stores,” Ellison said. “Other Ameritech products such as home-security systems will be positioned in these stores.”
Ameritech has no plans to go on a store-buying spree in other markets, said Ellison, but it would respond to opportunities such as the Triangle deal, if local chains that are strong outlets for Ameritech products go on the market.
Financial details of the deal weren’t disclosed.
