Goodyear Buy Swedish Retail Chain

Goodyear Dunlop Tires Europe has completed its acquisition of the Dackia tyre retail group, in Sweden. The deal will be completed when Goodyear buys the remaining 50 per cent of the retail chain. The last half of the business was purchased from Procuritas and Dackia management for approximately $10 million (£27 million).

The purchase completes the acquisition which first began in 1996 as part of the company’s “ambition to increase service levels to all Nordic customers.”

According to Michael J. Roney, president of Goodyear Dunlop Tires Europe, “Dackia, which has a very loyal customer base, will play an important role in our plans for growth.” Mr Roney added that first quarter sales for Goodyear’s European Union tire business were up 20 per cent over last year’s figure. Segment operating income was up more than 175 per cent.

Dackia has more than 60 company owned stores, as well as 31 contract partners throughout Sweden, and annual sales of approximately $65 million.