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You are here: Home1 / acquisition

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Beissbarth becomes part of the Stertil Group

Company News, International News

Beissbarth Automotive Testing Solutions GmbH is taking over Beissbarth GmbH as a subsidiary of Stertil B.V., effective 1 January 2023. Most self-administration proceedings Beissbarth GmbH applied for in July 2022 are therefore complete. The parties have agreed not to disclose the purchase price.

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Related news:

  1. Is Unipart Automotive being lined up for sale to Euro Car Parts?
  2. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  3. Tirebuyer.com and Tirescanner.com merge
  4. Goodyear completes Cooper Tire acquisition
20th January 2023/0 Comments/by Chris

Mobivia: Acquiring Michelin’s ATU shares makes sense from strategic standpoint

Company News, International News

Yesterday we reported that Mobivia Group had reacquired from Michelin its 20% stake in ATU or would do so “in the next few days,” becoming once again sole owner of the German garage and automotive parts network. At the time, Mobivia hadn’t responded to requests for further information, but a statement from company headquarters arrived this morning and sheds some light on the reason behind the buyback. What’s more, further research suggests Michelin was unable to realise its purchase price when selling the stake.

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Related news:

  1. Mobivia Groupe to acquire ATU
  2. Will rent price discord torpedo A.T.U. acquisition?
  3. ATU: Mobivia acquires Michelin’s minority shareholding
  4. German authorities give Michelin green light to acquire Ihle Baden-Baden
19th January 2023/0 Comments/by Stephen

Slight delay for Yokohama Rubber’s Trelleborg Wheel Systems acquisition

Company News

Trelleborg Wheel Systems will soon have a new owner, but not as soon as first announced. The Yokohama Rubber Co., Ltd. now anticipates completing its acquisition of all outstanding shares in Wheel Systems Holding AB in the first half of 2023, rather than during the originally planned second half of 2022. Narrowing this timeframe further, Trelleborg Group says its divestment of the business is “likely in the first months of the year.”

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Related news:

  1. Trelleborg share price up 16% after Wheel Systems acquisition reports
  2. TomTom shareholders set for 750 million-euro windfall
  3. Cooper shareholders approve Goodyear merger
  4. Itochu bids $1.7 billion for Hitachi Construction Machinery stake
3rd January 2023/by Stephen

Tatneft applies for FAS approval to buy Nokian Tyres’s Russia business

Company News, International News
Tatneft

Tatneft applied for Russian Federal Antimonopoly Service (FAS) approval for its plans to buy “a number of Russian subsidiaries of Finland’s Nokian Tyres” on 14 December.

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Related news:

  1. Nokian sells its Russian tyre operation to Tatneft for 400 million euros
  2. Tatneft acquires Sibur synthetic rubber plant
  3. Tatneft sells Kama Tyres business
  4. Vianor Aims to Open 30 Russian Outlets
19th December 2022/by Chris

Tatneft to buy Uzbekistan tyremaker BRZ LLC

International News
BRZ

Tatneft has signed an agreement with JSC Uzkimyosanoat to purchase Uzbekistan tyre manufacturer Birinchi Rezinotexnika Zavodi (BRZ) LLC. According to the Interfax news agency, Tatneft will hold 100 per cent of the enterprise’s shares following the deal.

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Related news:

  1. Yanchang/Duraturn set their sights on European assets
  2. Pirelli industrial/consumer tyre business split continues
  3. US puts 10% import tariffs on all Chinese tyres
  4. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
2nd December 2022/by Chris

GRI buys Klumpenaar Industriebanden BV

Company News, International News
Klumpenaar Industriebanden

GRI has acquired Klumpenaar Industriebanden BV in the Netherlands, the company’s fifth global acquisition in five years. Prior to the Klumpenaar purchase, GRI acquired entities in USA, Australia, Spain and the Baltics, to capture growth in those respective markets.

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Related news:

  1. GRI acquires Leffler Industrial Tires in the United States
  2. GRI acquires Nortire OU
  3. GRI acquires Australia’s Axis Tyres
  4. Amit Tolani named Ceat Specialty chief executive
30th November 2022/by Chris

Nokian sells its Russian tyre operation to Tatneft for 400 million euros

Company News, International News
Tatneft

Nokian Tyres plc has agreed to sell its Russian operations to Tatneft PJSC for approximately 400 million euros. The precise final purchase price will be affected by factors including net cash, working capital adjustment and foreign exchange rates. Confirming the news, Tatneft issued a one-paragraph statement saying the deal includes the plant in the city of Vsevolozhsk, in the region of Leningrad and that “the closing of the transaction and the purchase of assets is subject to a number of conditions, including obtaining approvals in accordance with Russian law.”

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Related news:

  1. Nokian moves selected tyre production out of Russia
  2. How will war in Ukraine impact European tyre production?
  3. Cooper acquisition is a game changer – Apollo MD talks to T&A
  4. Nokian Tyres drops 2022 guidance due to Russian invasion
31st October 2022/by Chris

Nokian Tyres expands Nokia site

Company News, International News

Nokian Tyres has acquired a property adjacent to its headquarters and factory in Nokia, Finland. With the addition of this 27,000 square metre building, the Nokian Tyres site in Nokia approaches 150,000 square metres in total.

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Related news:

  1. Nokian moving to 24/7 production in Finland
  2. Land purchase secures future Nokian Tyres growth in Finland
  3. Nokian Tyres Strengthens Retail Network
  4. Nokian Trials RFID System
13th October 2022/by Stephen

Competition watchdog greenlights German tyre wholesale acquisition

International News

Germany’s Federal Cartel Office (Bundeskartellamt) has approved Pneuhage Gruppe’s acquisition of tyre wholesaler Gewe Reifengroßhandel GmbH. This means that the business will be a wholly-owned subsidiary of Pneuhage Management GmbH & Co. KG from 1 January 2023 and become the third tyre wholesaler in the Pneuhage Group alongside Interpneu and Reifen Center Wolf.

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Related news:

  1. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
  2. Fintyre to open London head office
  3. FinTyre completes Rs Exclusivreifengrosshandel and Tyrexpert Reifen + Autoservice acquisition
  4. Best4Tires acquires German wholesaler Berlin-Tyre
11th October 2022/by Stephen

Changing tyre distribution landscapes

Editorial/Comment, UK News

The suggestion that the UK tyre distribution space is ripe for consolidation is not new. But during the single week that we went to press with the latest edition at the start of October, three big tyre retail announcements were made. First Stop broke through the 150-branch barrier. Point S announced that its buying group of independent tyre retailers now numbers 300. And Halfords bought Lodge Tyres for just over £37 million.

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Related news:

  1. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  2. Lodge Tyres consolidated in 2020, growing in 2021
  3. Halfords buys National Tyres and Autocare in £62 million deal
  4. 91% increase in Halfords Autocentres revenues drives group sales and profits
10th October 2022/by Chris

Lodge Tyres ‘excited’ to create largest commercial tyre network in the UK

UK News
Lodge Tyre’s Nottingham facility

Following the news that Halfords has bought Lodge Tyres, company representatives shared their excitement in relation to the move. ”We are excited to announce that Lodge Tyre have now joined the Halfords Group”, a social media post stated.

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Related news:

  1. Lodge Tyres consolidated in 2020, growing in 2021
  2. 91% increase in Halfords Autocentres revenues drives group sales and profits
  3. McConechys website migrates to Halfords.com
  4. Iverson Tyres also bought by Halfords
6th October 2022/by Chris

Norgesdekk buys 67% of Valla Däck AB

Company News, International News
Valla Däck AB; Norgesdekk

Norwegian tyre business Norgesdekk has bought 67 per cent of the shares of Valla Dack AB as part of a move into the Swedish market. The Swedish business, which turns 40 this year, had a turnover of more than SEK 190 million in 2021 (£15.444 million; 18.330 million euros).

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Related news:

  1. Norgesdekk buys P. Holth
  2. Norgesdekk AS agrees to buy Hjulius Dekk og Felg AS
  3. Independent Scandinavian tyre dealers a focus for new Iceland Tyres range
  4. Van den Ban acquires Swedish tyre wholesaler Amring
8th August 2022/by Chris

Goodyear’s Cooper integration: Almost 500 jobs to go

Company News, International News

During the second quarter of 2022, The Goodyear Tire & Rubber Company approved a plan related to the integration of Cooper Tire. This plan aims to streamline the company’s global administrative structure by reducing duplicated positions, and it will also result in the closure of “redundant” Cooper Tire warehouse locations in the Americas. According to Goodyear, the plan will result in “approximately 490 job reductions.”

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Related news:

  1. Goodyear completes Cooper Tire acquisition
  2. Cooper Tire joins the Goodyear team
  3. Goodyear: Sales, income up in Q2 2022
  4. Icahn returns with higher Pep Boys offer
8th August 2022/1 Comment/by Stephen

Groupe Touchette acquires ATD’s Canadian subsidiary

Company News, International News

Canadian tyre distributor Groupe Touchette Inc. has entered into a definitive agreement to acquire National Tire Distributors (NTD), the Canadian subsidiary of American Tire Distributors (ATD). The transaction is expected to close in the fourth quarter of 2022, subject to the satisfaction of customary closing conditions. Groupe Touchette says the addition of NTD will “significantly contribute” to its ability to serve customers and business partners while increasing the choices it can offer customers.

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Related news:

  1. US wholesaler expands in Canada
  2. ATD releases inaugural ESG report
  3. ATD acquires Monro’s Tires Now business
  4. Will Amazon buy ATD?
18th July 2022/by Stephen

Safer driving: Michelin acquires RoadBotics

Company News

Michelin has purchased road infrastructure computer vision specialist RoadBotics and intends to combine the US-based firm’s expertise with its own know-how to provide a Michelin DDi service aimed at road managers. It will initially offer this service in North America before beginning a rollout in Europe.

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Related news:

  1. Michelin to capitalise on Blackcircles.com, ATS Euromaster ‘synergies’
  2. Interested parties vie to acquire Indonesian tyre maker Multistrada
  3. The thinking behind Bridgestone’s TomTom Telematics acquisition
  4. Non-tyre growth: Michelin divests majority share in healthcare subsidiary, gains new partner
12th July 2022/by Stephen
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