US-headquartered Goodyear Tire & Rubber Company (GT) is acquiring Cooper Tire, the 5th largest tyre manufacturer in North America, in a transaction estimated at US$2.5 billion. The agreement should strengthen Goodyear’s leading position in the U.S., while significantly expanding its position in other North American markets. In China, the combination nearly doubles GT’s presence and increases the number of relationships with local automakers, while creating broader distribution for Cooper replacement tyres through GT’s network of 2,500 branded retail stores, according to the GT’s press statement.
Cooper products are manufactured in 10 facilities around the globe, including wholly-owned and joint venture plants. The company’s portfolio of brands includes Cooper, Mastercraft, Roadmaster and Mickey Thompson.
The transaction, subject to customary closing conditions, is expected to close in the second half of 2021.