European Tyre Enterprise Ltd (ETEL) and the shareholders of Tractamotors Group are pleased to announce that they have reached an agreement for ETEL to acquire 100% of the shares in Tractamotors Group, a leading tyre distribution company operating in the Republic of Ireland and Northern Ireland.
ETEL, owned by the Japanese ITOCHU Corporation, has operations in the UK, the Netherlands and Italy. The transaction, which is expected to be finalised in the coming weeks, will significantly expand ETEL’s presence in the markets on both sides of the Irish border.
Tractamotors Group, through its subsidiaries Tractamotors and Tyrecall, has established itself as a trusted name in tyre distribution across the region. Upon completion of the acquisition, ETEL will leverage Tractamotors Group’s extensive distribution network to further strengthen its capabilities in serving customers across both territories.
ETEL, an international leader in automotive tyre, servicing, maintenance, and repair, was established in 2011 when the ITOCHU Corporation brought together several long-established businesses in the automotive sector. Today, ETEL’s portfolio includes prominent brands such as Kwik Fit, Stapletons Tyre Services, STS Tyre Pros, and Murfitts Industries.
The acquisition of Tractamotors Group represents a significant milestone for ETEL, enhancing its ability to deliver comprehensive tyre solutions and services to a broader customer base in Ireland and Northern Ireland. This move underscores ETEL’s commitment to growth and its ongoing strategy to expand its distribution capabilities in key markets.
Yutaka Kimbara, CEO of ETEL, said: “The acquisition of Tractamotors and Tyrecall aligns perfectly with our vision of growth, innovation, and service. By welcoming Tractamotors Group into the ETEL family, we are significantly expanding our footprint in the Irish and Northern Irish markets, strengthening our distribution capabilities and, most importantly, positioning ourselves to better serve our customers with excellence.”
Niall Murray, MD of Tractamotors Group, said: “This acquisition combines the collective strengths of both our companies, leveraging local market knowledge and market penetration with the purchasing power and strategic acumen ETEL’s global experience can deliver. It will allow us to offer our customers an enhanced level of customer service and product offerings North and South, delivered by the same sales and distribution team our customers have come to rely on.”
Source: Tyretradenews
