SMP Closes Acquisition of General Cable’s Ignition Wire Business
Standard Motor Products Inc. closed on its acquisition of General Cable Corp.’s automotive ignition wire business. SMP acquired the business for roughly $71 million. The deal is still subject to post-closing adjustments, SMP said.
Bridgestone to Expand Footprint with Speedy France Acquisition
Bridgestone Corp. announced plans to acquire 100% of Speedy France, a French car service and tire retail network, Tyres & Accessories reports. With the acquisition, Bridgestone will expand its French presence to more than 800 retail locations and plans to increase its direct-to-consumer access in France, a key market for Bridgestone, and other areas where
Yokohama Denies Rumors of ATG Acquisition
Yokohama Rubber Co. has denied press reports that it is aiming to buy a majority of Alliance Tire Group (ATG), according to Tyres & Accessories. Rumors suggested that private equity firm Kohlberg Kravis Roberts is in discussions to sell its 90% stake in ATG to Yokohama. “The reports are not based on any official announcement.
Mavis Discount Tire Announces STS Acquisition
Mavis Discount Tire has officially announced the acquisition of Bridgewater, N.J.–based Somerset Tire Service Inc. After multiple sources told Tire Review the news in July, Mavis’ official announcement confirms one of the single largest acquisitions. STS has 157 retail locations with 95 in New Jersey, 33 in Pennsylvania, 29 in New York and six wholesale
BestDrive Expands South with Acquisition
BestDrive, a subsidiary of Continental the Americas, has acquired the commercial tire dealer and retreader Hill Tire Company, marking its first acquisition since its 2010 formation. “Hill Tire has built a strong reputation for quality service and people and this provides a solid foundation on which BestDrive will work to build,” said Clif Armstrong, managing
Mavis Discount Tire to Double Size with STS Acquisition
In what is certainly the single largest acquisition of its kind, Tire Review has learned from multiple sources that Millwood, N.Y.-based Mavis Discount Tire has purchased Somerset Tire Service Inc., based in Bridgewater, N.J. Somerset Tire, better known as STS Tire & Auto Centers, has 155 retail locations and seven wholesale centers, across New Jersey,
Heartland Tire Expands Through Acquisition
Minnesota-based Heartland Tire has acquired five locations in the Twin Cities metro area. The acquisition of three Galaxy Auto Center and two Goodyear Tire and Service stores increases the size of Heartland Tire to 11 locations. “Heartland Tire has developed a reputation across Minnesota of delivering top quality service and repair, and we’re excited have
Michelin Completes Sascar Acquisition
Michelin’s acquisition of all outstanding shares in Brazilian digital fleet management and freight security firm Sascar Participações S.A. and its affiliated companies, which was first announced on June 9, has now been completed. The transaction has been approved by the Brazilian competition authority (CADE) and all other closing procedures were finalized on August 29. Sascar has 870
Apollo Says Cooper Mishandled Acquisition Deal
Missteps and miscalculations by Cooper Tire & Rubber Co. killed any chance of completing its self-sale to Apollo Tyres Ltd., lawyers for the Indian tiremaker argued before the Delaware Chancery Court on July 9. The two companies were back before Judge Sam Glasscock III, seeking his long-awaited final ruling on which company fouled up the
Bob Sumerel Expands Through Acquisition
Bob Sumerel Tire Co., headquartered in Erlanger, Ky., has acquired five Northeast Ohio locations from Kauffman Tire Inc. The locations include four retail/commercial and farm tire service centers located in Wooster, Ravenna, Orwell and Medina that were previously a part of Kauffman Tire’s commercial division. Bob Sumerel Tire will also acquire a Bandag retread plant
