EC gives green light for German tire distributor takeover
24 Aug 2017
Share:
London – European Tyres Distribution Ltd, a UK-based company of US investment firm Bain Capital Private Equity, has received the European Commission's approval for the purchase of German tire distributor, Reiff Tyre and Automotive Technology.
The acquired company operates across the wholesale, retail and online value chain via four warehouses and 46 retail outlets. In 2016, it generated sales of around €340 million to more than 285,000 customers.
This is the second investment in tire distribution by private equity firm Bain in 2017. In March, it acquired Fintyre a leading distributor of replacement tires in Italy.
The purchases have been made through European Tyres Distribution, a strategic platform company based in the UK owned by Bain Capital private equity.
The combined revenues of Fintyre and Reiff Tyre and Automotive Technology are expected to exceed €750 million.
European Tyres Distribution has stated that it aims to become “the leading independent tire supplier in Europe in the coming years” through organic growth and further acquisitions.
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
Unlimited access to ERJ articles online
Daily email newsletter – the latest news direct to your inbox