Goodyear has agreed to sell its Dunlop tyre brand to Sumitomo Rubber Industries in a deal worth an estimated $701 million. The definitive agreement will see the “trademarks and intangible assets necessary for operations of the brand business in Europe, North America and Oceania for consumer, commercial and other specialty tyres, together with certain associated intellectual property” transferred to SRI. The terms of the deal are relatively complex, including a Transition Offtake Agreement in Europe that will last for five years, as well as Goodyear immediately licensing back Dunlop trademarks for use on commercial vehicle tyres. Goodyear will also retain its rights to Dunlop trademarks for use on motorcycle tyres in Europe and Oceania. Goodyear expects the transaction to close by mid-2025, subject to regulatory approvals and other customary closing conditions and consultations.