Tokyo – The Yokohama Rubber Co. Ltd (YRC) has is acquiring Polish tire distributor ITR CEE Spółka, through its European subsidiary Yokohama Europe GmbH.
Under the agreement signed 6 May, YRC will acquire a 100% equity stake in ITR, a wholesale distributor engaged in the import and sale of Yokohama tires in central and eastern Europe.
The acquisition is scheduled to be concluded on 14 May, after which the Polish company’s name will be changed to Yokohama CEE Spółka zoo, said a YRC statement 14 May.
Yokohama said the acquisition would facilitate further expansion of its market share and strengthen the group’s business foundation in “the growing market” of central and eastern Europe.
The takeover is part of Yokohama’s Transformation 2023 (YX2023) three-year management plan, which was launched in February.
Under the plan, the consumer tire business aims to maximise the sales ratio of its core high-value-added tires, which include the Advan brand, the Geolandar brand of tires for SUVs and pickup trucks, and certain winter tires.
As part of the plan, Yokohama said the consumer tire business is currently expanding the size lineups for the brands and implementing product and regional strategies to increase sales.