Tyre manufacturer Apollo Tyres, headquartered in the Indian city of Gurgaon, has acquired the Bielefeld-based reifencom Group. The purchase price was around EUR 45.6 million.
The acquisition of reifencom is part of Apollo Tyres’ strategy to expand its European business. The transaction is currently awaiting approval from the competition authorities.
A team from CMS Germany led by Dr Richard Mayer-Uellner and Klaus Jäger advised Apollo Tyres Ltd. on all legal aspects of the acquisition. The transaction was conducted to a very tight schedule. CMS regularly acts for Apollo Tyres on transactions, with CMS Netherlands advising on the acquisition of Dutch tyre manufacturer Vredestein and other transactions being handled recently in Eastern Europe.
Apollo Tyres Ltd. is a listed company established in 1972, specialising in the manufacture and sale of tyres. It has production facilities in Asia and Europe, and a sales presence in more than 100 countries. The company generated sales of around USD 2.1 billion in the 2012/2013 financial year. Apollo has some 15,000 employees worldwide.
reifencom is Germany's first specialist tyre discounter, offering a broad range of low-cost branded tyres. reifencom GmbH has online shops in six countries – Germany, France, Italy, Austria, Switzerland and Denmark. The company also operates 37 branches and service centres throughout Germany. reifencom sources tyres and wheels from leading manufacturers, thereby guaranteeing a high level of quality, in line with its mission of offering top-class products and services at competitive prices.
