Tractamotors Group to be acquired by European Tyre Enterprise Ltd
The shareholders of Tractamotors Group have just announced that they have reached an agreement with European Tyre Enterprise Ltd (ETEL) to acquire 100 per cent of the shares in Tractamotors Group, a leading tyre distribution company operating in the Republic of Ireland and Northern Ireland.
The transaction, which is expected to be finalised in the coming weeks, will significantly expand ETEL’s presence in the markets in both Ireland and Northern Ireland.
Founded in 2011, European Tyre Enterprise Ltd (ETEL) is owned by the Japanese ITOCHU Corporation. ETEL is a leading international automotive tyre, servicing, maintenance, and repair company. ETEL’s group of companies includes well-known brands such as Kwik Fit, Stapletons Tyre Services, STS Tyre Pros, and Murfitts Industries.
With operations in the UK, the Netherlands and Italy, the company says that it operates with a commitment to quality, innovation, and customer satisfaction, serving millions of customers across Europe.
Tractamotors Group, through its subsidiaries Tractamotors Tyres Ltd, Tyrecall Ireland Ltd and Tyrecall Ltd in Northern Ireland, has established itself as a trusted name in tyre distribution across the region. Upon completion of the acquisition, ETEL will leverage Tractamotors Group’s extensive distribution network to further strengthen its capabilities in serving customers across both territories.
A spokesperson for ETEL told the Tyre Trade Journal that the acquisition of Tractamotors Group represents a significant milestone for the firm, enhancing its ability to deliver comprehensive tyre solutions and services to a broader customer base in Ireland and Northern Ireland. This move underscores ETEL’s commitment to growth and its ongoing strategy to expand its distribution capabilities in key markets.
Yutaka Kimbara, CEO of ETEL, said: “The acquisition of Tractamotors and Tyrecall aligns perfectly with our vision of growth, innovation, and service. By welcoming Tractamotors Group into the ETEL family, we are significantly expanding our footprint in the Irish and Northern Irish markets, strengthening our distribution capabilities and, most importantly, positioning ourselves to better serve our customers with excellence.”
Niall Murray, MD of Tractamotors Group, added: “This acquisition combines the collective strengths of both our companies, leveraging local market knowledge and market penetration with the purchasing power and strategic acumen ETEL’s global experience can deliver. It will allow us to offer our customers an enhanced level of customer service and product offerings North and South, delivered by the same sales and distribution team our customers have come to rely on.”
Tractamotors Ltd tells us it has retrained ownership of the successful businesses it operates in Cavan town; Pitlane Retail Tyres and Motor Factors, Tractamotors Topline Hardware and Tractamotors Agri. These businesses will continue to operate under the ownership and management of Clarke and Murray family members from their iconic site on the edge of Cavan town.