Bridgestone: Acquisition of German tyre trade group Reiff
Bridgestone has announced the acquisition of the German tyre trade group Reiff Reifen und Autotechnik GmbH with over 500 employees. Under the Reiff, Netto and ABS brands, the company operates a network of 42 sales branches in southern Germany and a tyre retreading plant, all of which are part of the acquisition.
The transaction was signed on 1 May 2020 and is expected to close on 1 June 2020, subject to approval by the relevant authorities. Financial details were not disclosed.
According to Bridgestone, in recent years the company has focused on the retail sector with acquisitions and joint ventures in France, Germany, Spain and the UK. The retail network and partnerships across Europe include names such as Ayme, First Stop, pitstop.de, PPG Pneuhage Partners Group and Speedy.