Pirelli Sells CPK Tyre Wholesale Business to Stapleton’s
Stapleton’s Tyre Service has agreed terms to buy Pirelli’s CPK tyre wholesale business for an undisclosed sum. A TUPE consultation process commenced with elected representatives of CPK on Monday 26 July. The sale is said to fall within Pirelli UK’s strategy to focus on its core business, which does not include tyre retail or wholesale operations.
Tyres & Accessories understands that the 23 employees of CPK have been offered the option to move with their jobs to Stapleton’s Letchworth headquarters, in time for the planned completion of the deal at the beginning of October.
The latest news follows Stapleton’s purchase of Pirelli’s Central Tyre retail network in October 2008. This deal saw Stapleton’s buy 56 Central Tyre stores, more than doubling its retail strength from 45 depots to a new total of 101 throughout the UK.