SRI to buy tire distributor in the UK

Winchester, UK – Sumitomo Rubber Industries (SRI) has sealed another deal in the UK in less than two weeks, this time buying UK-based tire distributor Micheldever Group from Graphite Capital Management LLP.

The £215-million (€252 million) deal is part of SRI’s efforts to strengthen the market position of its Falken tire bran, following the dissolution of its global alliance agreement with Goodyear in October 2015.

Winchester-based Micheldever is a holding company controlling Micheldever Tyre Services Ltd. (MTS), a wholesaler and retailer of tires in the UK, established…

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