6 August 2015, 13:48
Michelin has acquired 100% of Meyer Lissendorf, a major tyre wholesaler in Germany.
Located near Cologne, the company had a turnover of 57 million euros in 2014 and employs approximately 90 people at its two main sites in Gönnersdorf and Lissendorf. Founded in 1974 by Hubert Vietoris and his wife Maria, nee Meyer, Meyer Lissendorf has built a dynamic distribution network of specialised dealers and independent repair shops. It also offers a range of tyres to wholesalers that specialise in spare parts and has developed a mounted wheel assembly business for car manufacturers’ networks.
The acquisition of Meyer Lissendorf is aimed at strengthening the Michelin distribution network in Germany, consolidating its position in the small and medium retailer redistribution market. This supplements the purchase in 2014 of the German wholesaler Ihle. Together, these two regional networks will also improve the Michelin national network in Germany.
This operation is part of the Michelin Group's strategy to strengthen its access to the European market by developing all distribution channels in response to the new requirements and behaviour of motorists.
This acquisition is subject to validation by the competition authorities in Germany and Austria.