LILLE, France — Group Michelin and Mobivia P.L.C., a European multi-brand vehicle servicing and parts distributor, have agreed to work together to support the development of Auto-Teile-Unger (A.T.U.), a Mobivia business active in Germany, Austria and Switzerland.
As part of the deal, Michelin has purchased a 20-percent ownership stake in A.T.U., the Weiden, Germany-based distributor that Mobivia acquired in December 2016.
A.T.U. operates 577 auto service centers in Germany, 25 in Austria and 6 in Switzerland, generating more than $1.1 billion in revenue annually from the sale of parts and services, including tires, wheels and related services.
Michelin paid $67.5 million for its minority share. Mobivia retains the 80-percent majority share.
Lille-based Mobivia is considered the largest auto maintenance and repair chain in Europe, with more than 2,030 workshops and retail outlets, more than 20,000 employees and annual revenue of $3 billion.
Besides A.T.U., Mobivia's retail brands include Norauto in France (500-plus outlets); Auto 5 in Belgium (50-plus locations); and Midas across Europe (660-plus locations).