The Michelin Group has acquired Levorin, a Brazilian manufacturer of bicycle and motorcycle tires. This family business, which was founded in 1943 by Hercules Levorin, specializes in the production of tires for the commuter segment in Brazil.
In 2015 Levorin had an annual turnover of US$150.5m and employs 2,000 people at its two plants in Sao Paulo and Manaus.
The strategic acquisition will enable Michelin to consolidate its presence in Brazil and strengthen the global development of its two wheel tire ranges.
More specifically, the tire maker will be able to strengthen its position in the expanding commuter segment and complement the range of tires currently offered by Michelin, which are historically oriented towards the high-end two wheel leisure market. For Levorin, the move will provide the resources to ensure its future growth and sustainability.