Akron, Ohio — Goodyear has acquired Raben Tire Co. a long-time Goodyear dealership that's ranked among the 50 largest commercial and retail dealerships and retreaders in the US.
Goodyear said buying of Evansville, Indiana-based Raben Tire will help advance its "connected business model" and enhances its ability to grow in the rapidly changing aftermarket tire business.
Financial terms of the deal were not disclosed.
Raben Tire generates roughly more than $150 million (€135 million) annually from its activities in the retail, commercial and retreading business.
Founded in 1952 by Henry Raben, Raben Tire operates over 30 commercial and consumer tire and service locations and three retread plants, including two that are Goodyear authorised retreading system plants.
The locations are spread throughout six states — Arkansas, Illinois, Indiana, Kentucky, Missouri and Tennessee.
"The addition of Raben further expands our network and strengthens Goodyear's ability to serve fleets," Dave Beasley, vice president, Goodyear North America Commercial, said.
Goodyear operates nearly 800 company-owned commercial and retail tire and auto service centres throughout the US and Canada.
Raben has been owned by affiliates of Palladium Equity Partners LLC , a middle market private equity firm, since 2014.