Groupe Michelin and the Group Taquipneu have signed an agreement that sees the global tire manufacturer take “a minority stake” in French commercial vehicle and industrial tire distribution specialists Taquipneu SA.
Details of the size of the stake and the value of the deal have not been released.
The strategy is for the two companies to work together in a mutually beneficial partnership that sees Michelin transfer some tire and trade know-how, while Taquipneu Group offers what Michelin representatives called its customer facing “operational excellence.” The intention is said to be for Michelin to grow in the segment, with Taquipneu strengthening its sustainability and the two companies respecting each others’ independence.
Speaking to Tyres & Accessories, a Michelin spokesperson pointed out that this kind of move is not Michelin’s usual approach, however it is something the company has opted to on this occasion due to this particular independent dealer’s track record for adding value to fleet, agricultural and industrial tire customers.
Taquipneu SA runs 31 warehouse and distribution depots in the southwest of France. The company employs 274 people, generates an annual turnover of around 50 million euros and has reportedly experienced strong growth for the last three years. (Tyres & Accessories)
