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.”