The Japanese tire manufacturer Bridgestone takes over the largest company from the bankruptcy estate of the Fintyre group with the German tire distributor Reiff Reifen und Autotechnik from Reutlingen . Under the brand names Reiff, Netto and ABS, Reiff operates a network with 42 tire shops in southern Germany and a retreading plant, all of which are part of the takeover. A total of 554 employees work in the factories.
The Reiff Group’s wholesale activities, which were grouped under the Tire 1 brand, are not part of the deal. Apparently potential investors do not see an attractive business model in tire wholesale.
The Reiff takeover was signed on May 1, 2020 and is expected to be completed on June 1, 2020, pending approval from the relevant authorities. Financial details of the transaction have not been released.