FinTyre completes Rs Exclusivreifengrosshandel and Tyrexpert Reifen + Autoservice acquisition
Following the announcement made on 28 December 2018, on 10 May 2019, European FinTyre Distribution (EfTD) announced that it has completed the acquisition of 100 per cent of German tyre firms Rs ExclusivReifengrosshandel GmbH and Tyrexpert Reifen+Autoservice GmbH.
The newly acquired companies are described as “leaders in wholesale and retail distribution in Northern Germany”. Together the two businesses represent an aggregate turnover of 88 million euros and more than 1 million tyres sold.
“Thanks to this operation, EfTD not only strengthens its presence in key geographic areas for the German market, but also becomes the largest tyre distribution platform in Germany”, commented Mauro Pessi, CEO of EfTD, adding:
“Those who rely on us can count on a logistical capacity that can perfectly manage the complexities arising from the wide range of products offered by the manufacturers. In fact, thanks to our presence in the strategic points of the German market and our extensive retail network, in 2018 we sold more than 8.5 million tyres and achieved a turnover of 740 million euros in the German market”.
Overall, European FinTyre Distribution is a leading pan-European distributor of replacement tyres. The firm’s 2018 turnover totalled 1.2 billion euros. Owned by Bain Capital Private Equity, it was developed to help consolidate the distribution space for replacement tyres across Europe. The London-based company acquired the Italian Fintyre in March 2017, the German companies Reiff Tyre Group in September 2017 and Reifen Krieg Group in June 2018.