Tyre wholesale: acquisition gives Italy’s Fintyre national coverage
Italian tyre wholesaler Fintyre has acquired its regional rival, La Genovese gomme. The European finTyre Distribution Ltd company has entered into a definitive agreement to purchase the Sardinia-based wholesaler and retailer.
La Genovese gomme employs approximately 70 people and distributes all major tyre brands. It also owns eight retail locations in Sardinia. The company generated revenues of 11.7 million euros last year.
Fintyre says the acquisition is part of a growth strategy to expand its presence in retail and wholesale channels throughout the whole of Italy. The purchase of La Genovese gomma follows several similar acquisitions – Fintyre bought 40-outlet tyre retailer Pneusmarket from the Marangoni Group in late 2015 and wholesaler Franco Gomma the following year. Prior to its purchase of La Genovese gomme, Fintyre had 220 employees and distributed 6 million tyres a year from its two central hubs and eight warehouses.
Mauro Pessi, president and chief executive officer of Fintyre, states that the coverage gained by acquiring La Genovese gomme consolidates Fintyre’s leadership in the Italian tyre wholesale market.