SALZBURG, Austria — Continental A.G. has agreed to purchase Reifen John G.m.b.H. & Co. K.G., a family-owned tire dealership with 32 outlets throughout southern Germany and Austria.
Financial terms of the deal, which still is subject to government oversight, were not disclosed.
Reifen John's 11 outlets in Bavaria will operate under the auspices of Conti's Vergölst tire and auto service network while the 21 stores in Austria will become part of the tire maker's Profi Reifen & Autoservice chain there. The stores are expected to retain the Reifen John name.
The Salzburg-based dealership was founded in 1926 by Albin John and has continued as a family-run business since.
"With this strong partner at our back, we are prepared to master the challenges of the future together," Reifen John Managing Director Thomas Hammerschmid said.
"I'm pleased to see our long company tradition continue under a renowned company like Continental," CEO Peter John said. "Being able to ensure the continuation of the Reifen John brand … and a sustainable future perspective for our employees were a personal issue for me."
Automobilwoche, a fellow Crain Communications publication based in Germany, contributed to this article.