Bridgestone, the world’s largest tyre and rubber company, has today announced the acquisition of German specialist tyre trade group, REIFF Reifen und Autotechnik GmbH. Under the brand labels Reiff, Netto and ABS, REIFF Reifen und Autotechnik GmbH runs a leading network of 42 retail stores in the south of Germany, as well as a tyre retreading plant, all of which are part of the acquisition deal.
With over 500 employees and an excellent reputation as a professional and trustworthy partner to both businesses and everyday drivers, the acquisition fits well with Bridgestone’s three-pillared strategy to become a mobility solutions leader by focusing on premium tyres, trusted mobility solutions and customer centric retail networks.
Daniel Giroud, Chief Sales Officer BSEMIA, commented: “At Bridgestone, our trade partners and customers are the focus of all activities. We look forward to welcoming REIFF Reifen und Autotechnik GmbH to our network. We share many values including the relentless attention to superior customer service which we will continue to live by as our relationship develops. This deal will effectively support our existing trade partnership network and create new synergies, allowing us to be even more present in the market as well as closer to our customers.”
Bridgestone focuses on the retail experience with many acquisitions and joint ventures across France, Germany, Spain and the UK over the past few years. Its retail network and partnerships now include leading European names, such as First Stop, Ayme, pitstop.de, PPG Pneuhage Partners Group and Speedy.
The acquisition signing took place on 1 May, 2020, with the closing expected on 1 June, 2020, subject to the pending approval of the relevant authorities. No financial details of the transaction will be disclosed.
SOURCE: Bridgestone
