Apollo Tyres acquires Reifencom

Apollo Tyres  has acquired German tyre distribution major Reifencom GmbH for 45.6 million euros (around Rs 301 crore) announced by vice-chairman and MD Neeraj Kanwar.

• The buy will enable Apollo Tyres improve its mix of distribution channels inGermany and Europe while helping in increasing the visibility of Apollo and Vredestein tyres in the offline and especially the fast-growing online retail space.
• Reifencom GmbH presence in six countries: Germany, France, Italy, Austria, Switzerland and Denmark.

Key points :
Apollo Tyres CEO : Onkar Singh Kanwar