Apollo Tyres buys out Germany’s Reifencom for euro 45.6 million

Industry:    2015-11-20

MUMBAI: Apollo TyresBSE 0.40 % has acquired German tyre distribution firm Reifencom GmbH for 45.6 million euros, or about Rs 324 crore, in a move that will take its brand closer to customers in Europe. “It will enable Apollo to improve its mix of distribution channels in Germany and Europe and aid in increasing the visibility of Apollo and Vredestein tyres in offline and especially in the fast growing online retail space,” Neeraj Kanwar, vice-chairman and managing director at Apoll .. Read more at: http://economictimes.indiatimes.com/articleshow/49799976.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

print
Source: