Following the news that Halfords has bought Lodge Tyres, company representatives shared their excitement in relation to the move. ”We are excited to announce that Lodge Tyre have now joined the Halfords Group”, a social media post stated.
Norwegian tyre business Norgesdekk has bought 67 per cent of the shares of Valla Dack AB as part of a move into the Swedish market. The Swedish business, which turns 40 this year, had a turnover of more than SEK 190 million in 2021 (£15.444 million; 18.330 million euros).
During the second quarter of 2022, The Goodyear Tire & Rubber Company approved a plan related to the integration of Cooper Tire. This plan aims to streamline the company’s global administrative structure by reducing duplicated positions, and it will also result in the closure of “redundant” Cooper Tire warehouse locations in the Americas. According to Goodyear, the plan will result in “approximately 490 job reductions.”
Canadian tyre distributor Groupe Touchette Inc. has entered into a definitive agreement to acquire National Tire Distributors (NTD), the Canadian subsidiary of American Tire Distributors (ATD). The transaction is expected to close in the fourth quarter of 2022, subject to the satisfaction of customary closing conditions. Groupe Touchette says the addition of NTD will “significantly contribute” to its ability to serve customers and business partners while increasing the choices it can offer customers.
Michelin has purchased road infrastructure computer vision specialist RoadBotics and intends to combine the US-based firm’s expertise with its own know-how to provide a Michelin DDi service aimed at road managers. It will initially offer this service in North America before beginning a rollout in Europe.
Repairify has acquired Automotive Training Group (ATG). The US-based technical training company offers live and virtual classes to automotive professionals in the 50 states and internationally. It emphasises quality instructional materials and experienced educators. It is the latest company to join the Repairify portfolio of brands, assembled by private investor Kinderhook Industries to service all aspects of the auto servicing in the latest data-driven era.
Best4Tires, the tyre, rim and complete wheel firm previously known as Reifen Gundlach, has entered into a binding agreement to purchase German tyre wholesaler 1a Berlin-Tyre GmbH & Co. KG. Parent company Rivean Capital (formerly Gilde Buy Out Partners) states that this acquisition “represents another important milestone towards Best4Tires’ strategic goal of establishing a market presence throughout Germany.”
Halfords Group has reported strong full-year 2022 revenue growth of +19.9 per cent compared with 2020. That means total group revenues amounted to £1.369 billion in 2022, of which £368 million came from the autocentres business – an increase of 91.9 per cent compared with 2020. Group gross margin totalled £721.7 million, of which £211.0 million came from Autocentres. Much of the Autocentres-driven growth comes via the acquisitions of Iversons and the Axle Group/National Tyres last year, however life-for-like growth of 23.4 per cent shows that business continues on an organic upward trajectory as well. As a result, Halfords Autocentres gross margin is now growing six-times faster than the group’s wider retail business.
American Tire Distributors (ATD) has entered into an agreement to acquire Tires Now, the wholesale tyre distribution business of automotive service and tyre provider Monro, Inc. The transaction brings seven Tires Now facilities across the Southeastern USA, which service more than 3,500 wholesale customer sites annually, into the ATD fold. In addition to servicing these wholesale customers, ATD will now also strengthen its strategic support for the tyre business conducted at more than 1,300 Monro retail outlets.
Russian firm PSJC Tatneft has signed an agreement to sell its tyre business, and as such is transferring Kama Tyres to JSC Tatneftekhiminvest-Holding.
Towards the end of April, tyre servicing equipment supplier Martins acquired UK company Checkpoint, which is known for its wheel security products. Checkpoint has 30 years of experience in the market that began with founder, CEO and inventor Mike Marczynski.
Titan International, Inc. has entered into a definitive agreement to sell its Australian wheel business to OTR Tyres, a Western Australia-based tyre, wheel and service provider. It anticipates closing the deal on 31 March 2022.
Apart from the 2.1-billion-euro price tag what does Trelleborg Group stand to gain from the sale of its Trelleborg Wheel Systems business unit?
Now Yokohama has confirmed its acquisition of Trelleborg Wheel Systems (TWS), we can talk more definitively about the rationale behind the purchase. There are several drivers behind the acquisition, but they all boil down to Yokohama’s desire to increase global leadership and rebalances its product mix.
Zhongce Rubber Group (Zhongce) has acquired Tianjin United Tire & Rubber International Co, Ltd (TUTRIC), the manufacturer of the Tianli off-the-road tyre brand. The acquisition means Zhongce will expand its business into the agricultural and giant OTR tyre segments, while bolstering its already strong offering to OTR and industrial tyre markets. Established in 1985 in the coastal city of Tianjin, near Beijing, TUTRIC manufactures 35,000 tonnes of OTR and agricultural tyres per year. The TUTRIC factory at Tianjin covers an area of 480,000sqm, employing more than 1,000 people. Zhongce says the acquisition is the next step in its continued global expansion. The manufacturer is China’s largest tyre-maker, and the world’s ninth biggest in Tyres & Accessories’ 2021 ranking.
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Valla Däck AB; Norgesdekk
Martins
Trelleborg
YOHT
Zhongce