Continental Tyre Group has bought fleet management and tyre retreader Bandvulc in "a logical step".
The two companies have worked together for more than 25 years.
The acquisition will allow Continental to strengthen its position in the UK and Irish markets, as well as enable Bandvulc to grow its own operation with access its new owner’s fleet and customer portfolio.
Bandvulc’s Ivybridge, Devon factory will continue to offer both Bandvulc and Continental’s ContiRe retreads, with a view to expanding the latter range in the UK in due course.
Continental said it intends to run both businesses as usual, and that it will keep Bandvulc’s entire management team on, including MD Patrick O’Donnell.
Continental MD David Smith said: “This partnership is a logical step in the close working relationship Continental and Bandvulc have enjoyed for many years.
“Our complementary customer portfolios and product lines mean that each area of the business is able to benefit from extensive growth opportunities with very few areas of overlap.”
O’Donnell added: “Having worked with Continental for over 25 years, we believe they offer the best opportunity for the Bandvulc business to enjoy continuous growth in the future.
“In addition, we felt that the culture and strategies of both companies fit well together giving us clear synergies and a cohesive structure moving forward.”
