The acquisition of the Speedy France retail network will increase Bridgestone’s network to more than 800 outlets in the country
Bridgestone has announced its plan to acquire 100 per cent of the car service and tyre retail network Speedy France. The manufacturer intends to use the new acquisition to increase its direct access to end-users in France, one of its core European markets, as well as in other markets where Speedy has a presence. The finalisation of the acquisition is subject to approval by the regulatory authorities; once approved, and the transaction is completed, Bridgestone’s French presence will be expanded to more than 800 retail outlets, contributing strongly to its accelerated growth strategy.
“We are delighted with today’s announcement,” said Eduardo Minardi, executive chairman and CEO of Bridgestone EMEA. “We consider Speedy to be a strong strategic fit, with a premium customer mix, extended geographical coverage and a focus on service quality. Furthermore, Speedy has strong brand recognition and an innovative mindset.
“I would also like to take the opportunity to warmly welcome the Speedy franchisees and to thank them for their contribution to make Speedy a great service provider. Given Speedy’s performance improvements in the past years, we want its CEO Jacques Le Foll and his team to continue to manage their activities in line with their strategic plan.”
A service network extension of this nature also provides Bridgestone with the opportunity to gain a better understanding of consumer behaviour. This will naturally feed into the current big data approach of several premium brand manufacturers. Bridgestone states that such an approach “is essential to continue building a leading position.”
Speedy’s CEO, Jacques Le Foll, added: “Teaming up with the world’s number 1 player of the tyre industry is excellent news for Speedy, its suppliers, franchisees and its customers. The association with Bridgestone will provide us support to ensure Speedy’s development while ensuring continuity on our strategic principles: quality, customer service, innovation and pioneer spirit. Consequently, this is a win-win situation for both key players and we look forward to working towards the next phase of Speedy’s future development and growth”.
Tyres being such a critical component in Speedy’s range of products and services, Bridgestone’s expertise in this area will be a crucial asset in Speedy’s further development.
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