The Netherlands Authority for Consumers and Markets (ACM) has approved Global Automotive Investments Holding BV’s acquisition of PBG BV (Pon Tyre Group). The ACM reached its decision on 10 March after determining that the wholesale tyre market will remain sufficiently competitive following the takeover.
The Netherlands Authority for Consumers and Markets (ACM) announced today that Global Automotive Investments Holding BV, parent company of major tyre wholesalers Inter-Sprint and Van den Ban, intends to acquire PBG BV (Pon Tyre Group), the company that previously distributed the Continental tyre brand in the Netherlands. Global Automotive and current PBG owner Pon Holdings requested permission for the transaction on 29 January.
As of 1 July, Brussels-based Continental subsidiary Continental Benelux has taken over exclusive distribution of Continental car, van and industrial tyres in the Netherlands from Continental Banden Groep (CBG). Continental Benelux is already responsible for the Continental commercial vehicle tyre range in this market, having taken on direct distribution five years ago.
Netherlands-based transportation sector firm Pon Holdings announced yesterday its intention to divest Gundlach Automotive Corporation (GAC) at the end of this year to private equity investor Gilde Buy Out Partners. The business will thereafter operate as an independent company.