Groupe Michelin has purchased the number one United Kingdom Internet tire retail company- Blackcircles.com—for roughly $76 million (£50 million), the tiremaker said.
This is the second investment in an online tire sales company the tiremaker has made in a month. Michelin also purchased a 40% share in France’s leading online tire retailer Allopneus in April. The acquisition of Blackcircles.com represents another stage in its efforts to implement an active e-commerce strategy, the tiremaker shared.
“Our strategy illustrates our ambition: to be ever more innovative, efficient and proactive for our customers by offering them products and services suited to individual needs, and by simplifying the entire purchase process, from choosing their tires to having them fitted by professionals,” said Jean-Dominique Senard, CEO of Michelin.
In 2013, Edinburgh-based Blackcircles.com generated roughly $42.6 million (£28 million) in revenue in 2013 and has grown roughly 20% annually since 2008, Michelin noted. The online retailer is reporting a 34% year over year growth already in Q1 of 2015.