Boston, Massachusetts – European FinTyre Distribution Ltd (EFDL) has received the European Commission’s greenlight to acquire German tire distribution group Reifen Krieg Group.
The EC approved the acquisition 6 Aug, saying the company’s combined position in the current market would be “moderate” with a significant number of competitors.
In June, Bain Capital-owned EFDL announced the acquisition of the German group and all its subsidiaries, including businesses in the US.
Reifen Krieg Group is mainly active in the wholesale supply of replacement tires in Germany. Post-acquisition, its current owners Holger Krieg and Tobias Fink will continue to lead the company.
Headquartered in Neuhof in central Germany, Reifen Krieg generated sales of €330 million in 2017.
In addition to EFDL, Bain Capital also owns Autodistribution Group, both of which are active in the wholesale and retail supply of replacement tires and other automotive spare parts.