HUK-Coburg buys 25% of tyre retailer Pitstop

In early July, German insurance company HUK-Coburg bought a 25.1 per cent stake in tyre and fast-fit chain Pitstop. HUK-Coburg will now add Pitstop’s garages to its auto service network offering, which sees motorists – both HUK-Coburg insurance customers and non-customers – pre-book basic vehicle servicing online.

The move expands HUK-Coburg’s network by around 300 to 450 garages in over 200 cities, according to the insurer.

Stefan Kulas remains the managing majority shareholder of Pitstop after the sale of 25.1 per cent of the company. The sale price have not been revealed.

HUK-Coburg-Autoservice GmbH has been arranging workshop services such as inspections, general inspections and emissions tests and wheel changes to car insurance customers of HUK-Coburg and HUK24 since 2016.

Bridgestone holds a minority stake in Kulas Holding GmbH, which holds 100 per cent of pitstop.de GmbH.

Pitstop had previously been owned by Kwik Fit. But at the end of May 2009, the Kwik Fit Group sold the business to BluO International Affiliates, a German private equity investor.