TOKYO — Japan's Marubeni Corp. has acquired a 49-percent stake in Radial Llantas S.A. de C.V., one of Mexico's leading tire distributors, with 66 wholesale and retail locations in 17 states.
Marubeni said it anticipates expanding its presence in Mexico, which “has been experiencing motorization as a result of its steady economic growth.”
The Japanese trading company said car ownership in Mexico exceeds 36 million, making it 10th largest market in the world. This level of motorization underlies the potential for expansion of the automotive aftermarket, such as the replacement of consumables including tires, and maintenance services, Marubeni said.
Financial terms of the deal were not disclosed, but Marubeni said the agreement provides for Marubeni's participation in Radial Llantas' management.
Radial Llantas is based in Guadalajara. Eduardo Gonzalez Luna Silva is listed as director general.