Yokohama Completes ATG Acquisition
Yokohama Rubber Co. officially completed its $1.17 billion acquisition of Alliance Tire Group on July 1. Toru Kobayashi, former assistant to YRC president Hikomitsu Noji, has been appointed Alliance Tire Group chairman. The acquisition will help Yokohama expand its commercial tire business and give the tiremaker access to ag and forestry tire manufacturing – two
Rebranding After Acquisition
A dark and dingy showroom is a thing of the past. Before your customer service, even before your vehicle service, the showroom offers a first impression of your business. Customers expect a neat and clean showroom, but they also need to recognize your business. Branding your tire dealership is key to building a strong relationship
Report: Conti, Michelin Considering Kumho Tire Acquisition
Continental AG is reportedly in talks to join the bidding for Kumho Tire Co., The Korean Herald reports. Other companies interested in acquiring Kumho include Chinese state-owned ChemChina and France’s Michelin, according to the report. Analysts have further said that Kumho is an attractive buy to global firms because of its several plants in China
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.
Deal Done: Icahn Gets Keys to Pep Boys
Icahn Enterprises closed its $1.03 billion acquisition of Pep Boys, paying $18.50 per share in the all-cash deal. As a result of the completion of the merger, the common stock of Pep Boys will no longer be listed for trading on the New York Stock Exchange or any other exchange. Billionaire Carl Icahn, chairman of
STTC Acquires All Time Tire
Bethlehem, Pa.-based Service Tire Truck Centers has acquired All Time Tire, located in South Toms River, N.J. All Time Tire has been in the Toms River area for more than 18 years, and with the acquisition, all All Time Tire employees will be offered positions with STTC. Founder and general manager of All Time Tire
Early Termination of Waiting Period for Bridgestone’s Tender Offer for Pep Boys
The waiting period required under the Hart-Scott-Rodino Antitrust Improvement Act (HSR Act) has been terminated with respect to the cash tender offer to purchase all of the outstanding shares of Pep Boys, Bridgestone Americas said. The tiremaker added that the tender offer condition under the HSR Act has been satisfied. Bridgestone previously commenced a cash
Apollo Tyres Acquires Reifencom
Apollo Tyres has acquired the German tire distributer – Reifencom GmbH – for 45.6 million euros. Reifencom is one of Germany’s largest tire distributers, operating 37 stores and service centers across Germany. The company also has an online presence in Germany, France, Italy, Austria, Switzerland and Denmark. “The acquisition is a strategic fit in further
Bridgestone Buying Pep Boys
Bridgestone Americas’ Bridgestone Retail Operations has entered into an agreement to acquire Pep Boys in an all-cash transaction for roughly $835 million. The acquisition of Pep Boys accelerates Bridgestone Corp.’s global growth. The purchase will add approximately 800 locations to Bridgestone Retail Operations’ nationwide network. Currently, BSRO operates approximately 2,200 tire and automotive service centers
K&M Acquires Midwest Tire & Muffler
Ohio-based K&M Tire Inc. continues to expand into the Midwest with the acquisition of Midwest Tire & Muffler Inc. “This acquisition will allow us to grow our customer base in North and South Dakota and to better serve some of our current customers in these areas,” said Cheryl Gossard, K&M Tire vice president. “We’re very
Mann+Hummel to Acquire Affinia Group
German filter product producer Mann+Hummel is acquiring most of vehicle parts and systems producer Affinia Group. The deal includes Affinia’s consumer and commercial vehicle businesses, and its global filtration operations, excluding its South American operations. “We believe that this partnership with Mann+Hummel will accelerate our growth potential, provide access to new technologies and capabilities, and
Brake Parts Inc. Acquires Raybestos Brand
David Overbeeke, president and CEO of Brake Parts Inc., announced on Thursday, Dec. 18, that Brake Parts acquired the Raybestos brand from Affinia Group Inc. “Having full ownership of the Raybestos brand ensures that its proud tradition will continue on, backed by the innovative product design and manufacturing excellence of Brake Parts Inc. It is
