November 21, 2018

Sumitomo to acquire UK’s Micheldever Group

Sumitomo Rubber Industries (SRI) is to buy leading UK tyre distributor Micheldever Group in a deal worth £215 million.

Micheldever is a a wholesaler and retailer of tyres, established in 1972. In addition to sales to over 6,000 retailers and auto-repair shops nationwide in the UK as a tyre wholesaler, the company owns and operates about 100 tyre retail outlets under the Protyre brand and generates sales of about 6 million tyres per year.

SRI has been active in taking measures to strengthen its production capabilities and expand its sales, and the company says the purchase of Micheldever is part of a strategy to strengthen the market position of its Falken tyre brand in the UK.