TGI Buys Serit Tires

Tire Group International (TGI) has bought US-based Brazil and the Caribbean tyre export specialist, Serit Tire Wholesale (STW). According to an official statement announcing the acquisition, TGI purchased all STW’s assets for an undisclosed sum.

“This acquisition gives TGI an instant presence in Brazil, which is a market we have been absent for the last nine years. We are also retaining the services of STW’s president Ernie Rodriguez. Rodriguez will be responsible for the continuing development of this market, as well as developing other key markets we have targeted. Rodriguez has over 15 years experience in International Tire Sales and his expertise will be another asset TGI can count on,” said Tony Gonzalez, Tire Group International’s Chief Executive Officer. Gonzalez also stated that TGI will continue to be aggressive in its growth strategy and will look for other acquisition opportunities that make business sense and fit into TGI’s growth plans.

TGI is part of a group of companies whose annual revenues exceed US$1.5 billion. The wholesale specialist carries over 40 brands of tyres, covering the entire spectrum of the industry. It also distributes its own private labels Astro, Cosmo, Industar, Luna, Orion and exclusively represents many other brands including MRF, Cooper, Sumitomo, Delta, Matador.