Hankook Tire Acquires Major German Tire Distributor
Hankook Tire has agreed to acquire Reifen-Mueller, one of Germany’s largest independent tire wholesalers and retailers. In addition to Reifen-Mueller’s sales distribution affiliate company, Reifen-Mueller KG, the acquisition will also include ‘Reifen-Mueller GmbH & Co. Runderneuerungswerk KG’.
Reifen-Mueller is one of Germany’s leading tire distributors and was founded in 1966. It currently employs more than 700 staff and owns 44 service centers in Germany, selling a wide range of tires from passenger car, and light truck to heavy truck and bus tire segments as well as motorcycle and agricultural tires. Both the current owners, as well as the acting management of Reifen Mueller will continue to serve as group management of the company.
The acquisition of Reifen-Mueller secures for Hankook Tire one of the most innovative tire distribution models in Germany, according to the company. It will allow the tire maker to expand its distribution channels in Europe, laying down the basis for strengthening the company’s global distribution competitiveness.
Furthermore, Hankook Tire will leverage Reifen-Mueller’s 44 service centers as strategic bases to expand its business by solidifying its distribution networks, according to the company.
Hankook Tires in 2017 acquired Australia’s JAX TYRES.
Hankook Tire’s growth strategy includes building large scale manufacturing plants and R&D centers, and establishing innovative distribution networks to strengthen its global positioning as a leading tire firm, according to the company.