Suppliers

Hankook Acquires a Tire Distributor in Germany

Posted on July 5, 2018

Hankook Tire Co. Ltd. has bought Reifen-Mueller KG, an independent German tire wholesaler and retailer.

The deal also includes the purchase of the company's retreading business, Reifen-Mueller GmbH & Co. Runderneuerungswerk KG.

Financial terms of the agreement were not disclosed.

Founded in 1966, Reifen-Mueller owns 44 service centers in Germany and employs more than 700 people. It sells a wide range of tires, from passenger and light truck to heavy truck, bus, motorcycle and agricultural tires. Reifen-Mueller's current owners, as well as acting management, will remain with the company.

Hankook says the acquisition secures "one of the most innovative tire distribution models in Germany, which is to have an extremely competitive automotive market. It will allow the tire maker to expand its distribution channels in Europe, laying down the basis for strengthening the company's global distribution competitiveness."

The tire maker says it will use Reifen-Mueller's existing service centers as "strategic bases to expand its business by solidifying its distribution networks. Through the distribution network that sells global multi-brands along with its own products, Hankook Tire will further complete the existing customer-oriented distribution system that thoroughly reflects the needs of consumers."

Hankook says the acquisition is part of its goal to establish an innovative distribution system. In 2017, the company acquired one of Australia’s top retail franchises, Jax Tyres (JAX Quickfit Franchising Systems Pty. Ltd.). Hankook says the acquisition helped to increase sales in Australia, but also allowed the company to leverage the Jax Tyres distribution system to its 4,000 direct and franchised distribution channels globally.

The company says, "Hankook Tire will continue to successfully follow its organic growth strategy by building large scale manufacturing plants and R&D centers, and establishing innovative distribution networks to strengthen its global positioning as a leading tire company. It will also engage in consistent M&A investments with partners that can provide maximum synergy to reinforce its global competitiveness."

For more information, visit www.hankooktire.com/global.

Related Topics: acquisitions, Germany, Hankook, Reifen-Mueller, retail, Tire distribution, wholesale

Comments ( 0 )
More Stories
"Sumitomo Rubber is not aware of any U.S. tire manufacturers advocating for the imposition of tariffs under Section 232," said Smallwood.
News Tariffs on Auto Parts Will Be Harmful, Says Sumitomo's Smallwood

The United States Department of Commerce hosted a government hearing on the Section 232 National Security Investigation of Imports of Automobiles and Automotive Parts on Thursday, July 19, 2018. One tire industry executive made sure his voice was heard.

Richard Edwards, mayor of Bowling Green, Ohio, was flanked by TravelCenters executives Barry Richards, left and Skip McGary at the ribbon cutting ceremony.
News TravelCenters Celebrates the Opening of Its First Retread Facility

TravelCenters of America LLC recently held the grand opening for its first TA Commercial Tire Network Retread Center. Located in Bowling Green, Ohio, the center uses the Goodyear UniCircle and precure processes to retread an average of 110 truck tires a day.

In Grand Prairie, Texas, near Dallas, BestOne opened its first facility. The retread facility was built with space to add two more curing chambers for the future.
News BestDrive Continues Expansion and Opens 2 Locations in Texas

BestDrive LLC, a Continental tire and ContiLifeCycle commercial tire dealer and retreader, has entered the Texas market and opened two locations, one near Dallas and another in San Antonio.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!