BREUBERG, GermanyPirelli Tyre S.p.A. has acquired two German retail tire chains totaling 11 outlets, expanding its captive retail network of stores in Germany to 70 outlets.
The purchases, carried out by the firm's Pneumobil G.m.b.H. subsidiary, come about a year after Pirelli made acquisitions in Brazil and Sweden totaling 120 stores60 percent control of Campneus Líder de Pneumáticos Ltda. in Brazil and total control of Däckia Holding A.B. in Sweden.
The latest purchases are in addition to an agreement Pirelli struck recently to start building a network of premium tire stores in Russia.
The two dealerships in Germany, Reifen Bland in Düren and Reifen Wagner R.W., operate one and 10 outlets, respectively. Financial terms were not disclosed.
In Brazil, Pirelli Campneus Líder is considered one of Brazil's largest tire distributors with 54 retail outlets in seven Brazilian states. Pirelli paid about $30 million for its stake.
The 54 Campneus stores included in the agreement are already part of Pirelli's distribution network in Brazil, which counts more than 600 points of sale in total.
Acquiring Däckia Holding's 66 retail locations gives Pirelli a distribution platform that will allow it to accelerate its penetration of the Nordic countries, the tire maker said at the time, a natural market for winter tires.
In Russia Pirelli is partnering with Rosneft Oil Co., a leading Russian oil and gas concern that operates 1,800 filling stations throughout the country, to build a network of stores under the PZero Platinum name.