South Korean tyre manufacturer, Hankook, has agreed to acquire German tyre wholesaler and retailer, Reifen-Mueller.
Reifen-Mueller was founded in 1966, currently employs more than 700 staff and owns 44 service centres in Germany. It sells a wide range of tyres for passenger cars, light and heavy trucks, buses and motorcycles. Both of 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 will reportedly secure one of the most innovative tyre distribution models in Germany – allowing the tyre maker to expand its distribution channels in Europe, laying down the basis for strengthening the company's global distribution competitiveness.
Hankook will also leverage Reifen-Mueller's 44 service centres as strategic bases to expand its business by solidifying its distribution networks.
In 2017, Hankook acquired Australia’s retail franchise channel, Jax Tyres.