Hankook acquiring Germany distributor Reifen-Mueller

Seoul – Hankook Tire is buying 100% shares of German independent tire distributor Reifen-Mueller in a bid to strengthen its global distribution system.

The South Korean company announced 4 July that the acquisition will include Reifen-Mueller’s sales distribution affiliate company, ‘Reifen-Mueller KG’, as well its retreading business ‘Reifen-Mueller GmbH & Co. Runderneuerungswerk KG’.

The transaction amount was not disclosed.

Reifen-Mueller is a leading German tire distributor and was founded in 1966.

The company currently has 44 service centres with 700 employees.

Reifen-Mueller offers a range tires, from passenger car, and light truck to heavy truck and bus tire segments as well as motorcycle and agricultural tires.

Post-acquisition, the current owners and the acting management of Reifen Mueller will continue to serve as group management of the company.

Hankook said it would leverage Reifen-Mueller’s service centres to expand its business and solidify its distribution networks.

Reifen-Mueller will continue to sell global multi-brands along with Hankook, in order to maintain the “customer-oriented distribution system”.

Hankook also noted that it would continue its growth strategy “by building large scale manufacturing plants and R&D centres and establishing innovative distribution networks.”

The company also said that it would engage in M&A investments.