Goodyear to sell Dunlop to Sumitomo Rubber Industries for over $700m

Goodyear has agreed to sell the Dunlop brand to Sumitomo Rubber Industries (SRI) for approximately $701 million (c.€680m).

The definitive agreement will see the “trademarks and intangible assets necessary for operations of the brand business in Europe, North America and Oceania for consumer, commercial and other specialty tyres, together with certain associated intellectual property”, transferred to SRI.

Goodyear said the transaction is subject to regulatory approvals, other customary closing conditions and consultations and is expected to close by the middle of 2025.

The sale of the Dunlop brand follows a previously announced strategic review of the brand in connection with the ‘Goodyear Forward’ transformation plan, explains Mark Stewart, Goodyear CEO and president.

“This is another important milestone as we continue to execute against our Goodyear Forward transformation plan. We are optimising our portfolio and reducing leverage to drive sustainable and substantial shareholder value creation,” he said.

“Not only does the transaction deliver significant value for our shareholders, it better positions Goodyear to enhance our focus on the growth of our core brands.”