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.
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.
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.”
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.
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.
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.”
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.
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.
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.
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).
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.”
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.
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.
Tatneft
BRZ
Klumpenaar Industriebanden
Valla Däck AB; Norgesdekk