Bridgestone EMEA completes acquisition of Speedy France while subsidiary enters into joint venture with Pneuhage
Transactions strengthen Bridgestone’s retail distribution network in key European markets, increase consumer access to world-class products and services
Tokyo (August 5, 2016) - Bridgestone Corporation (Bridgestone) today announced that Bridgestone EMEA (Europe, Middle East and Africa) completed the acquisition of 100% of Speedy France, one of France's leading tire and automotive service providers. Bridgestone EMEA announced its plan to acquire the retail chain on May 30th, 2016, and completed the acquisition on July 28th following the receipt of all necessary approvals.
Additionally, on August 1st, Bridgestone Deutschland, a subsidiary of Bridgestone EMEA, obtained approval from the European Commission to enter into a joint venture with Pneuhage Management GmbH & Co. KG, a leading independent auto parts chain with national coverage in Germany. Bridgestone announced its intent to enter into the joint venture on July 1st.
The combination of these two transactions will strengthen Bridgestone EMEA's regional retail footprint, increasing its access to the market and to customers in major markets in Europe.
About Bridgestone Corporation:
Bridgestone Corporation, headquartered in Tokyo, is the world’s largest tire and rubber company. In addition to tires for use in a wide variety of applications, it also manufactures a broad range of diversified products, which include industrial rubber and chemical products and sporting goods. Its products are sold in over 150 nations and territories around the world.