Michelin acquires 40% stake in leading French online tyre retailer

Michelin says its acquisition of a 40 per cent share in France’s leading internet tyre retailer is a way to offer consumers “a simplified and financially-advantageous path” between searching online for tyre information and making a purchase and having tyres fitted by professionals. The tyre maker is investing €60 million for a minority stake in Allopneus SAS, which currently holds a seven per cent share of the French tyre market and sold some three million tyres last year.