Apollo Tyres Tyres

Apollo Tyres acquires European tyre distributor Reifencom GmbH

Apollo Tyres

The tyre retailer has presence in 6 European nations.

Apollo Tyres has announced that it has acquired Reifencom GmbH, one of Europe’s largest tyre distributors, for 45.6 million euros (around INR 323.3 crores). The German retail giant operates 37 stores in its home country and has online presence in Germany, France, Italy, Austria, Switzerland and Denmark.

Speaking about the acquisition Neeraj Kanwar, Vice Chairman and Managing Director, Apollo Tyres Ltd, said it is a strategic fit to grow the European business further. The move will enable Apollo to improve its mix of distribution channels in Germany and Europe. The deal will also increase visibility of Apollo and Vredestein tyres in both offline and online retail space.

Apollo Retread Zone Mumbai

The acquisition will help Apollo expand its European business.

Over the years, Reifencom has earned a reputation for itself in the tyre retailing space, thanks to its highly efficient logistics system which results in high availability of tyres and rims of all configurations throughout the year. The retail chain sources its items from top manufacturers to avoid quality issues.

Also read – Apollo Tyres US plan detailed

Apollo Tyres has been on a global acquisition spree with particular interest in the European market. The existing Vredestein brand and the new acquisition is expected to improve the Indian tyre maker’s presence in the continent significantly.

About the author

Nithyanandh Karuppaswamy

Winner of national level automotive quiz competitions, Nithyanandh aka Nithz jumped into the blogosphere right after gaining a degree in Mechanical Engineering. Love for automobiles and an even greater drive to share his knowledge with the automotive community, Nithz is Deputy Editor at RushLane.

Email - nithyanandh@rushlane.com

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