Michelin acquisition “rescues” German tyre wholesaler
Speculation suggested that Michelin quietly prepared for its acquisition of German tyre wholesaler Reifen Ihle Baden-Baden AG over a number of years, yet evidence has emerged that shows the tyre maker’s management team wasn’t as visionary as thought when planning this particular transaction. And it’s also become evident that Ihle’s description of itself as “Europe’s top-performing wholesaler for tyres, rims and complete wheel sets” hasn’t reflected reality for a long time now. Michelin’s purchase may now protect Ihle from further decline or even insolvency as since 2011, if not longer, Ihle has been in troubled waters and is, pending the consent of the German Federal Cartel Office, in need of rescue by Michelin before it sinks.
