Conti buying major tire and auto service chain in Australia

Hanover, Germany – Continental is to acquire Kmart Tyre and Auto Service (KTAS), one of Australia’s largest tire and auto service suppliers, Continental announced 13 Aug.

The AUD350-million (about €227 million) acquisition from Wesfarmers Ltd “will greatly reinforce the corporation’s tire dealership network in Australia, the Hanover-based group said.

The deal “marks a major expansion in our presence on the Australian tire market,” said Nikolai Setzer, member of the executive board of Continental AG responsible for the Tire division.

“This move is part of our ‘Vision 2025’ growth…

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