Bridgestone Acquires NZ’s Largest Independent Tyre Retailer

Bridgestone has boosted its retail presence in New Zealand through the acquisition of the 19 outlets operated by Tony’s Tyre Service, the country’s independent tyre retailer. The chain, founded in 1982 by businessman and former retreader Steve Lange, and its 150 plus employees, will come under the control of the tyre major on March 31.

“I think it’s the right time,” commented Lange to the Manawatu Standard. “The company’s achieved some pretty spectacular results and it’s got a fantastic reputation in the industry. We want to take that to the next level.” Mr Lange will continue in his role as chief executive and the retail outlets look likely to retain their distinctive brand identity. “Nothing changes,” he added. “We are still the operators and a totally independent entity. I’ve been pretty careful to ensure that my people would not be changed. The consumer will not notice any difference.” The financial details of the acquisition remain undisclosed due to a confidentiality agreement, however Mr. Lange indicated the offer was very attractive.

Before this agreement, Bridgestone New Zealand already operated more than 200 retail outlets in New Zealand, the majority of which trade under the Bridgestone or Firestone brand names. After March 31 the company will employ close to a thousand people throughout New Zealand in its retail operations and at Bridgestone’s three retreading facilities.