Conti acquires Hoosier Racing Tire

FORT MILL, S.C. (Oct. 4, 2016) — Continental the Americas L.L.C. has acquired Lakeville, Ind.-based Hoosier Racing Tire Corp., a leading manufacturer of racing tires and a business partner of Conti for the past seven years.

Hoosier has been producing race tires for Continental since 2009, when the companies signed a strategic alliance to work together in the fields of motorsports and high-performance street tires with a goal of competing in “new market segments.”

Financial terms of the transaction are not being disclosed. Hoosier does not disclose its annual sales.

“This acquisition showcases the consequent execution of our long-term growth strategy Vision 2025, characterized by strategic planning and systematic implementation of technological progress,” said Nikolai Setzer, executive board member for Continental's tire business.

“The acquisition of Hoosier Racing Tire is an exciting next addition to our product portfolio and will support our growth strategy, especially in the ultra high performance segment.”

Jochen Etzel, CEO of Continental Tire the Americas, said, “We believe Hoosier Tire is well-positioned to continue its strong growth, and we look forward to supporting that development through our complementary knowledge and extensive footprint.

“Hoosier's management team will continue to run the racing tire business. We are committed to the employees, and the communities in which Hoosier operates. We look forward to the future of working together to accelerate growth,”

Founded in 1957 by Robert and Joyce Newton, Hoosier supplies tires for most racing applications throughout the world, with an emphasis on high performance. The company employs nearly 500 people at its manufacturing and distribution operations in Indiana.

Mr. Newton died in 2012.

“Continental and Hoosier share a similar vision for continued growth and sales excellence,” said Hoosier President and CEO Joyce Newton.

“Hoosier has fantastic brand recognition, a high-performing team, established customer relationships and a great lineup of products. This acquisition will provide a stronger and more sustainable organization for Hoosier moving ahead.”

Continental's strategic alliance with Hoosier in 2009 coincided with Continental's gaining the exclusive race tire supply contract for Grand-Am Road Racing's Sports Car Challenge series — now called the IMSA Continental Tire Sports Car Challenge.  

That deal expanded a year later to include Grand-Am Racing's top prototype and GT racing classes, then known as the Rolex Series, and now operating as the IMSA WeatherTech Championship.  

More recently, Continental garnered the tire supply contract with its General brand for the Automobile Racing Club of America's ARCA Racing Series presented by Menards.

Hoosier has continued to make tires for Continental for all of these series.