Goodyear marks milestone with Cooper Tire integration

AKRON — It won't be long until tire dealers across North American will learn the full impact of Goodyear's integration of Cooper Tire and Rubber Co.

On June 7, the one-year anniversary of Goodyear's historic acquisition of fellow Ohio-based Cooper, Goodyear's Ryan Patterson released a letter, promising that both Goodyear and Cooper dealers soon will have "access to a single operating system, combined sales force and an integrated brand and product portfolio."

Patterson, named Goodyear Americas chief operating and integration officer last October, said the Akron-based tire maker is targeting early 2023 for the "full value" of the integration.

"Together, we are positioned to become a stronger U.S. leader in the global tire industry," Patterson wrote, "and I am confident that the best is yet to come.

It remains unclear how Goodyear plans to position its new brands — Cooper, Mastercraft, Mickey Thompson and Roadmaster among them — into the market with its Goodyear, Dunlop and Kelly brands.

Patterson's letter was delivered to dealers and posted on Goodyear's corporate website and social channels for consumers 12 months to the day the merger was finalized.

Patterson, a Goodyear executive since 2002, leads the North America Consumer and Commercial business units as well, overseeing the Americas integration plan.

In the letter, Patterson pointed out several accomplishments achieved over the past year.

"Since that time," Patterson wrote, "you have remained our priority as we worked to deliver uninterrupted customer service while creating more value for your businesses. I'm proud of what we've achieved together with you through the first year of integration."

Goodyear's $2.5 billion cash-and-stock purchase surprised many in the industry when it was announced on Feb. 22, 2021.

The deal combined Goodyear, the world's No. 3 tire maker, with global sales of $11.4 billion in 2020, with Findlay, Ohio-based Cooper Tire, the No. 13 tire maker with 2020 global sales of $2.5 billion.

Patterson pointed out how the company has continued to invest in its brands since the sale was consummated. That includes:

• Building the first replacement tires designed for electric vehicles (ElectricDrive GT and the Endurance RSA ULT);
• Expanding Cooper's Mastercraft-brand portfolio with the addition of two new lines; and
• Producing more sustainable commercial tires by replacing some petroleum content with soybean oil.

"In addition to developing leading products, we listened to your feedback and made great strides as a supplier," Patterson wrote. "While we still have work to do, we have improved our supply and inventory quality in an extremely volatile environment."

Goodyear President and CEO Rich Kramer told analysts recently that Goodyear has begun offering Cooper- and Starfire-brand tires through its company-owned retail and commercial outlets as part of a plan to broaden the mix of products offered through those channels.

That means that Goodyear's TireHub L.L.C. distribution joint venture with Bridgestone Americas Inc. has begun stocking Cooper-brand products at warehouses across the country.

Previously, American Tire Distributors Inc. (ATD) had been Cooper Tire's primary distributor.

Patterson concluded his letter by telling dealers that Goodyear "deeply appreciates your loyalty and business."