Family-owned company Magna Tyres Group expands its global footprint with the acquisition of Tirepoint, one of the largest tyre dealers in South Africa.
Founded in 2004 and operating in the Gauteng, KZN and Western Cape regions,Tirepoint has established itself as one of the largest tyre dealers & service providers in South Africa, Magna tyres wrote in a statement.
The company has an exceptionally strong foundation of tyre industry-related experience and adheres to good business practices created to place the customer first; the statement noted.
As an independent, multi-branded organisation with strong supplier relationships, Tirepoint is positioned to consistently provide exactly what clients need.
Michael de Ruijter, president & CEO of Magna Tyres Group stated, “We are excited to welcome Tirepoint to the Magna Tyres Group family. With their expertise and excellent longstanding reputation as well as their ability to satisfy customers with tailor-made solutions, Tirepoint is a valuable addition to our global network. It perfectly fits our joint belief of ‘Customer First’ mentality.”
Ruijter said, “With the addition of Tirepoint, our position as the largest second tier supplier of off-road tyres and service provider in the world has been further strengthened. Moreover, it’s a giant step forward in our well executed ‘Buy & Build’ strategy.”
According to the company, with this acquisition, Magna Tyres Group, which employs over 700 dedicated employees across the globe, it is well ahead of its goal to surpass our turnover by $645 million (€600 million) before 2026.
“Furthermore, it accelerates our growth on the African continent tremendously, ” the company said while adding that the financial details of the acquisition cannot be disclosed.