Bridgestone acquires former Fintyre Germany tyre trade group Reiff
Bridgestone has acquired German specialist tyre trade group, Reiff Reifen und Autotechnik GmbH. The company, part of the collapsed Fintyre Germany group, includes the Reiff, Netto and ABS brands. Reiff runs a network of 42 retail stores in the south of Germany, as well as a tyre retreading plant, all of which are part of the acquisition deal. It has more than 500 employees.
Bridgestone states that the company has “an excellent reputation as a professional and trustworthy partner to both businesses and everyday drivers.” It adds that the acquisition “fits well with Bridgestone’s three-pillared strategy to become a mobility solutions leader by focusing on premium tyres, trusted mobility solutions and customer centric retail networks.”
Daniel Giroud, chief sales officer BSEMIA, commented: “At Bridgestone, our trade partners and customers are the focus of all activities. We look forward to welcoming Reiff Reifen und Autotechnik GmbH to our network. We share many values including the relentless attention to superior customer service which we will continue to live by as our relationship develops. This deal will effectively support our existing trade partnership network and create new synergies, allowing us to be even more present in the market as well as closer to our customers.”
The acquisition signing took place on 1 May, 2020, with the closing expected on 1 June, 2020, subject to the pending approval of the relevant authorities. No financial details of the transaction will be disclosed.
Bridgestone has recently focused on the retail experience with many acquisitions and joint ventures across France, Germany, Spain and the UK established over the past few years. Its retail network and partnerships now include leading European names, such as First Stop, Ayme, pitstop.de, PPG Pneuhage Partners Group and Speedy.