St. Johnsbury, Vermont - Nokian Tyres PLC has purchased US-based tyre retailer Goss Tire Co. of St. Johnsbury, the first of what the Finnish tyre maker indicated could be a series of retailer acquisitions in the US winter tyre regions.
Terms of the deal, which closed Oct. 25, were not disclosed. Goss Tire operates five outlets in Vermont and one in New York, with 40 employees.
â€œThe acquisition enables Nokian Tyres to increase its tyre sales and to have access to the consumer sales in the US market,â€ said Seppo Kupi, managing director of Vianor Holding Oy, Nokian's retailing and retreading subsidiary. â€œWe are aiming at further expanding the Vianor operations in the near future in the U.S. winter tyre areas.â€
Adding Goss Tire's outlets expands Nokian's Vianor retail chain, which consists of 340 outlets in Finland, Sweden, Norway, Estonia, Latvia, Russia, Ukraine, Kazakhstan, Switzerland and the US.
Nokian owns 174 outlets and the others operate on a franchising basis.
Goss Tire, a longtime Nokian dealer, was founded in 1897 but didn't start selling tyres until the 1920s or '30s. It also sells Bridgestone, Firestone and Dayton brand tyres.
This is Nokian's second acquisition in the US distribution sector. In 2005 it bought University Wholesalers Inc. of Colchester, New York-a Nokian distributor for two decades prior to that-to strengthen its wholesale distribution capacity and logistics in the strategically important North American winter tyre market.
From Tire Business (A Crain publication)