Apollo Tyres Ltd. is acquiring a German tire distributor, Reifencom GmbH, for 45.6 million Euro. The company operates 37 stores and service centers throughout Germany, and has an online presence in six countries: Germany, France, Italy, Austria, Switzerland and Denmark.
Neeraj Kanwar, vice chairman and managing director for Apollo, says “The acquisition is a strategic fit in further growing our European business. It will enable Apollo to improve its mix of distribution channels in Germany and Europe and aid in increasing the visibility of Apollo and Vredestein tires in the offline and especially the fast growing online retail space.”
Apollo praises Reifencom GmbH for its efficient logistics system, ensuring availability of all kinds of tires and rims, even during busy seasons. The distributor prides itself on providing world-class products and services at competitive prices.
“It is our privilege to join hands with Apollo Tyres, where the team shares our passion for providing world-class products and customer service,” says Olaf Sockel and Heiko Knigge, managing directors of Reifencom GmbH.
For more information, visit www.apollotyres.com.
