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Continental to acquire Australian tyre dealer for €227 million

Continental to acquire Australian tyre dealer for €227 million

Continental will buy Kmart Tyre and Auto Service (KTAS), one of Australia’s largest tyre and auto service suppliers, from Wesfarmers Limited of Australia to strengthen the company’s tyre dealership in Australia for around €227 million.

“Australia is a highly promising sales market for Continental,” says Nikolai Setzer, member of the Executive Board of Continental AG responsible for the Tire division. “The acquisition of KTAS marks a major expansion in our presence on the Australian tyre market. This move is part of our ‘Vision 2025’ growth strategy through which we are systematically expanding the worldwide presence of our Tire division.”

KTAS, based in Sydbey, has 258 branches and has more than 1,200 employees. The core business of KTAS comprises passenger and light commercial vehicle tyre sales and service, inspections and maintenance, as well as minor mechanical repairs to brakes, airconditioning and suspension systems.

“We are very pleased to further strengthen our commitment to the Australian market through the acquisition of KTAS – a very successful and well-known tire and auto services chain in Australia,” commented Ferdinand Hoyos, Head of PLT Tire Business Asia Pacific. “Together with the current management team and our new colleagues at KTAS we are looking to drive forward what is already a strong network of outlets and expand their product portfolio,” he added, setting out Continental’s plans.

In the future, Continental, with its already existing BestDrive retail network, is aiming to complement the tyre, car parts and repair business with services for retail customers as well as for fleet operators in the Australian market.

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