Magna Tyres Group announced it has acquired OBO Tires, the largest tire retreader in the Netherlands. Founded in 1959, the company has specialized in producing retreaded tires for the agricultural and OTR market and additional tire repair services.
Recently the company received exclusive distribution rights of the Magna agricultural, and MTP OTR tires, which allowed the company to offer qualitative and cost-effective new tire solutions.
The acquisition of OBO Tires is the next step in the global expansion of Magna Tyres Group and will be a great benefit to all customers. 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 Tires to be an attractive add-on for existing Magna Tyres customers but also an opening to new markets,” said Michael de Ruijter, CEO of Magna Tyres Group.
Former owner Herman Hutten is content with the acquisition. “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. With Magna Tyres Group as the new owner, the company is continued in the way as I have always seen it; sustainable retreading professionals. OBO Tires will accelerate in its growth and provide more markets with the most green tires.”
The integration of OBO Tires within the Magna Tyres Group will begin in January 2017. The name and entity of both companies will remain the same.