TOKYO (March 25, 2016) — Yokohama Rubber Co. Ltd. (YRC) has struck a deal to buy off-road tire maker Alliance Tire Group for $1.18 billion, expanding Yokohama's OTR tire business measurably and putting the Japanese maker into the agricultural tire sector for the first time.
Yokohama's deal is with global investment firm KKR & Co. L.P. and other concerned parties to purchase all of the shares of Mumbai, India-based Alliance Tire Group. The acquisition is expected to be finalized on July 1, 2016, after completion of all necessary closing procedures, including regulatory approvals, YRC said.