LONDON — Zenesis Group, a London-based tire and auto parts distributor, has acquired Vacu-Lug Traction Tyres Ltd. and pledged to make Vacu-Lug the "most advanced independent retreader in Europe."
The acquisition, for which no financial details were disclosed, covers rights to the company, its equipment and 11-acre site in Grantham, England, Vacu-Lug said.
"We are pleased that the business will remain a major employer in Grantham and that Zenises has the capability to develop it further," said Vacu-Lug Chairman Chris Langham, whose grandfather founded the company 70 years ago.
Post-acquisition, Vacu-Lug management will continue to run the business, according to Jorge Crespo, executive director of Zenises, who added Vacu-Lug would "retain its independence, as with all other companies that form part of the wider Zenises Group.