GRI acquires NORTIRE OÜ to expand its tyres service network in North Europe

GRI acquires NORTIRE OÜ to expand its tyres service network in North Europe

GRI acquired NORTIRE OÜ in Northern Europe  for an undisclosed amount.

The acquisition of the Nortire Group, headquartered in Estonia, with a branch in Latvia and two branches in Lithuania, will further expand the GRI’s global tyres  service network, whilst attaining a significant for foothold in the North European tyre market.

The Nortire Group was founded by  Tarmo Männasalu in 2000, and is now a leading distributor of material handling, industrial and construction tyres and wheels, rubber tracks, polyurethane wheels and castors. Its operations span over Estonia, Latvia, Lithuania, Belarus and Western Russia. Nortire, furthermore has proprietorship over four large warehouses in across the region.

“I am proud to announce the acquisition of this group of companies. Männasalu has grown his businesses and revenues year-on-year at a noteworthy pace, to a level that attracted GRI. This milestone will prove to strengthen and build upon the geographical outreach of GRI. The Nortire Group is in fact, recognized as the market leader in the product offering of Material Handing tyre, this competitive advantage will propel GRI’s success in the market.” proclaimed Prabhash Subasinghe, Managing Director GRI.

“Being a leader in the industry and with ambitious progress in business growth, GRI will also soon deliver to the North European tyre market, its wide range of Specialty Tires, via the Nortire Group, thereby effectively enhancing the group to become an all-rounder in the offering of speciality tyres” said Dr. Mahesha Ranasoma, CEO GRI.

The founder of the Nortire Group, Tarmo Männasalu stated, “GRI has proved to be an organization that is passionate in taking on stimulating strategic advancements, coupled with a strong commitment to producing high quality speciality tyres. It is a privilege to hand over the reins to this multinational company and I have no doubt that this will lead Nortire into prosperous growth and allow for the continued provision of premium tyres with outstanding quality and assured performance to our customers.”

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