Seoul, Korea / Neu-Isenburg, Germany, July 4, 2018 – Premium tyre maker Hankook announced today, that it has agreed to acquire 100% equity stake of ‘Reifen-Mueller’, one of Germany's largest independent tyre wholesalers and retailers. In addition to Reifen-Mueller’s sales distribution affiliate company, ‘Reifen-Mueller KG’ the acquisition will also include the retreading business ‘Reifen-Mueller GmbH & Co. Runderneuerungswerk KG’
Reifen-Mueller is one of Germany's leading tyre distributors and was founded in 1966. It currently employs more than 700 staff and owns 44 service centres in Germany, selling a wide range of tyres, from passenger car, and light truck to heavy truck and bus tyre segments as well as motorcycle and agricultural tyres. Both the current owners, as well as the acting management of Reifen Mueller will continue to serve as group management of the company.
With the acquisition of Reifen-Mueller, Hankook Tire will secure one of the most innovative tyre distribution models in Germany, which is known to have an extremely competitive automotive market. It will allow the tyre 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 centres as strategic bases to expand its business by solidifying its distribution networks. Through the distribution network that sells global multi-brands along with its own products, Hankook Tire will further complete the existing customer-oriented distribution system that thoroughly reflects the needs of consumers.
Hankook Tire will continue to successfully follow its organic growth strategy by building large scale manufacturing plants and R&D centres and establishing innovative distribution networks to strengthen its global positioning as a leading tyre company. It will also engage in consistent M&A investments with partners that can provide maximum synergy to reinforce its global competitiveness.