WAALWIJK, Netherlands (Dec. 22, 2016) — OTR tire specialist Magna Tyres Group has acquired OBO Tyres, a Dutch retreader specialized in agricultural and OTR tires and related repair services.
Magna called the acquisition of Hardenberg, Netherlands-based OBO Tyres the "next step" in its global expansion plan, and one that provides Magna a "cost-effective" retreading option for its customers.
"We expect OBO Tyres to be an attractive add-on for existing Magna Tyres customers but also an opening to new markets," Magna Tyres CEO Michael de Ruijter said.
Financial terms of the deal were not disclosed, but Magna called OBO the largest retreader in the Netherlands. OBO Tyres will retain its name under Magna's ownership, the company said.