DeltiCom takes controlling stake in Asian tyre retail portal

ERJ staff report (DS)

Hanover, Germany - Delticom AG has bought a majority stake in Singapore-based Tyrepac Pte Ltd, Asia's First Tyre Portal, for an undisclosed amount in cash. The transaction is structured as a capital increase at Tyrepac.

Tyrepac provides consumers in Asia a central platform to buy tyres online. The webshops allow easy comparison of tyre brands, patterns, and prices. In addition, the company operates a growing network of service partners who stand ready to fit the tyres. Since its foundation in 2008 Tyrepac has expanded into Malaysia, Hong Kong, China, and South Korea.

Delticom AG currently operates more than 100 online shops in Europe and North America. “The transaction is an important building block in our long-term Asian strategy”, says Rainer Binder, CEO of Delticom. Starting from Tyrepac's credible brand and proven track record, the joint venture will help Delticom to reach into new high-growth, emerging markets.

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Press release from Delticom