The UK's hitherto largest independent retreader, Vacu-Lug, have confirmed that the company has been acquired by the London/Dubai based Zenises Group, the agent for Westlake Tyres in a number of key European countries, including the UK.
Vacu-Lug Managing Director Tim Hercock issued the following statement on behalf of the company;
"While this represents a significant change in the background of the Company structure, you will see and experience very little change at the sharp end. In essence we have moved from one private family owner to another, both with a history of long-term investment in their businesses. The new owner brings added experience in our industry as a fourth generation tyre entrepreneur.
"The business will continue to run under the Vacu-Lug name under the current management team. Our aim is to work with the same customers, service providers, new tyre partners and key suppliers that we have enjoyed a strong and important relationship with.
"This change represents a new chapter in our long history and one that presents us with great new opportunities, whilst keeping all the advantages of a private family business. We owe a huge thank you to our founder Lewis Morley and his family for all their support over the last 70 years and will ensure we continue to work hard and build on these foundations to produce continued success into the future under our new owner."