Hankook Tire has announced its acquisition of a 100% stake in Reifen-Müller, one of Germany’s largest independent tire wholesalers and retailers, including Reifen-Müller GmbH & Co. Runderneuerungswerk KG.
According to a company press release, the acquisition represents the next step in Hankook Tire’s dedication to accelerating global distribution innovation. The ability to leverage Reifen-Müller’s 45 service stations will also serve to continue enhancing global competitiveness through ongoing expansion of its distribution capabilities in Europe. Hankook will use this opportunity to solidify its networks while continuing to operate on a consumer-orientated basis.
Founded in 1966, Reifen-Müller serves customers throughout Germany as a tire wholesaler for passenger vehicles, trucks, and buses, including motorcycles and agricultural tires.
Similar to Hankook’s previous acquisition of Australian tire distributor JAX Tires, the Korean premium tire manufacturer plans to continue increasing overall sales and apply Reifen-Müller’s distribution system to its 4,000 established direct and franchised distribution channels.