European FinTyre Distribution (EfTD), one of the largest pan-European tire distributors, is to acquire German tire wholesaler, Reifen Krieg Group. Following the integration of the two companies, Reifen Krieg’s current owners, Holger Krieg and Tobias Fink, will continue as managing directors.
Since its founding in 2007, Reifen Krieg Group has established itself as a leading tire wholesaler with a portfolio of products and tire brands on offer. Headquartered in Neuhof, Germany, the company generated sales of approximately €330m (US$381.7m) in 2017 and has annual sales volumes of 3.5 million consumer, moto, and truck tires, and more than half a million steel and alloy wheels.
EfTD aims to become the largest independent tire distributor in Europe through both organic growth and acquisitions. In 2017 the company acquired Fintyre, a distributor of replacement tires in Italy, and Reiff Tyre Group, an independent multi-channel tire distributor in Germany.
Reifen Krieg Group and Reiff Tyre Group will operate independently in the German market as sister companies held by EfTD. The combined business will have more than 1,300 employees, €1.1bn (US$1.2bn) revenue and 16 warehouses.
“Since its founding in 2007, the Reifen Krieg Group has been on a continuous growth course. We are convinced that this merger is a great opportunity to continue this trend. We look forward to further developing our vision and expertise in the EfTD Group together with the management and senior management of European FinTyre Distribution. We believe that EfTD and the Reifen Krieg Group can expand the service portfolio and build on its relationships with customers,” said Krieg.