Nokian buys University Wholesalers
Nokian Tyres plc has purchased Colchester, Vt.-based University Wholesalers Inc., one of its major North American distributors.
The acquisition, which closed yesterday, "strengthens (Nokian's) wholesales and logistics in the strategically important North American winter tire markets," according to Nokian officials.
University Wholesalers was operated by Bob Hepp.
The dealership's 2004 sales totaled $40 million.
"The acquisition enables us to strengthen our sales organization and to ensure the increase of our winter tire sales in the North American snow belt area where we already have gained a strong foothold," says Kim Gran, CEO and president of Nokian Tyres.