WINCHESTER, England (Jan. 5, 2017) — Sumitomo Rubber Industries Ltd. (SRI) is acquiring Micheldever Group, a Winchester-based tire distributor, as part of its efforts to strengthen the market position of its Falken tire brand in Europe.
The pending deal, which is subject to European Commission approval, is valued at nearly $270 million. Micheldever Group is a holding company controlling Micheldever Tyre Services Ltd. (MTS), a wholesaler and retailer of tires in the U.K., established in 1972.
MTS sells to 6,000-plus retailers and auto-repair shops in the U.K. from a network of 15 warehouses and also owns and operates about 100 tire retail outlets under the "Protyre" brand.