Magna Tyres Group Acquires OBO Tyres
Magna Tyres Group has announced the acquisition of OBO Tyres, the largest retreader in the Netherlands. Founded in 1959, the company has specialised in producing retreaded tyres for the agricultural and OTR market and additional tyre repair services. Recently the company received exclusive distribution rights of the Magna agricultural, and MTP OTR tyres, which allowed the company to offer qualitative and cost effective new tyre solutions to the Benelux tyre market.
The acquisition of OBO is seen by Magna as being the next step in the company’s global expansion. The purchase enables Magna Tyres Group to offer customers an increased product range but also the possibility for additional cost effective retreading options, lowering the total cost of Magna Tyres solutions. “We expect OBO Tyres to be an attractive add-on for existing Magna Tyres customers but also an opening to new markets,” commented Michael de Ruijter, CEO of Magna Tyres Group.
Former owner Herman Hutten added; "There are many synergies between the companies of which both will benefit. It will undoubtedly result in a better market position in the retreading business.”
The integration of OBO Tyres within the Magna Tyres Group began at the start of January 2017. The name and entity of both companies will remain the same.