Bridgestone Plans to Acquire Tire Network in France
Bridgestone Corp.’s EMEA (Europe, Middle East and Africa) subsidiary plans to acquire 100% of Speedy France SAS, a car service retail company and tire network in France.
The acquisition is subject to approval by the regulatory authorities.
Bridgestone says teaming up with Speedy will increase its direct access to end-users in France, one of its core European markets, as well as in other markets where Speedy has a presence. Speedy will maintain its market identity, according to Bridgestone.
Once the transaction is approved, Bridgestone’s presence in France will be expanded to more than 800 retail outlets.
"We consider Speedy to be a strong strategic fit, with a premium customer mix, extended geographical coverage and a focus on service quality," says Eduardo Minardi, executive chairman and CEO of Bridgestone EMEA. "Furthermore, Speedy has a strong brand recognition and an innovative mindset."
“Given Speedy’s performance improvements in the past years, we want its CEO Jacques Le Foll and his team to continue to manage their activities in line with their strategic plan.”
Bridgestone says a service network extension of this nature also provides it with a unique opportunity to gain a better understanding of end-users.
Speedy’s CEO, Jacques Le Foll, said the acquisition is excellent news for Speedy, its suppliers, its franchisees and its customers.
“The association with Bridgestone will provide us support to ensure Speedy’s development while ensuring continuity on our strategic principles: quality, customer service, innovation and pioneer spirit. Consequently, this is a win-win situation for both key players and we look forward to working towards the next phase of Speedy’s future development and growth.”