Michelin Purchases Internet Tire Retail Co.

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.

The Goodyear Tire & Rubber Company has named Ryan Waldron as president of the company's Americas business unit, reporting to Chief Executive Officer and President Mark Stewart. He succeeds Steven R. McClellan, who retired on April 1.

"At Goodyear, our customers are at the center of everything we do, and in Ryan Waldron, we have a customer-centric, execution-focused business leader with a deep understanding of both the marketplace and all aspects of our business, as well as a proven track record of delivering results," Stewart said. "I am thrilled to announce him as president of Goodyear's Americas business and have enormous confidence that under his leadership, both the company and our customers will reach even greater levels of success."