Goodyear completes sale of Dunlop brand to Sumitomo Rubber

Akron, Ohio – Goodyear Tire & Rubber Co. has completed the previously announced sale of its rights to the Dunlop brand to Sumitomo Rubber Industries (SRI), the US tire maker announced 7 May.

The rights cover consumer, commercial and other speciality tires in Europe, North America and Oceania together with certain associated intellectual property and inventory.

The deal, valued at $735 million (€650 million), comprised of $526 million for the Dunlop brand, $105 million for a transition support fee and $104 million for the purchase of Dunlop tire inventory.

In a separate statement 8 May, SRI said it will “strive to maximise the value” of Dunlop as its key global brand.

In March, SRI disclosed its long-term management strategy (Rise 2035), which will see the group intensifying its focus on tire 'premiumisation' and its non-tire business. (ERJ report)

The strategy mainly prioritises investment in certain target areas to achieve short-term and long-term.

The growth will be supported by the development of Dunlop brand, which covers premium tires in almost all global regions as well as sports products.

As part of the strategy, SRI intends to strengthen the brand over the next two years through 'unification of Dunlop identity', and improve profitability by promoting premium tires.

In 2028-30, it aims to promote global brand-management centered on Dunlop, and then leverage established brands, focusing on cash-flow generation and securing a strong market position.