Competition watchdog greenlights German tyre wholesale acquisition

Germany’s Federal Cartel Office (Bundeskartellamt) has approved Pneuhage Gruppe’s acquisition of tyre wholesaler Gewe Reifengroßhandel GmbH. This means that the business will be a wholly-owned subsidiary of Pneuhage Management GmbH & Co. KG from 1 January 2023 and become the third tyre wholesaler in the Pneuhage Group alongside Interpneu and Reifen Center Wolf.

Gewe reported sales of 54.7 million euros and net earnings of 3.5 million euros for the 2021 financial year. Pneuhage states that Gewe will continue as a separate, full-range supplier along with its approximately 45 employees in Kaiserslautern, Germany. Achim Becker will remain as managing director.