Bridgestone will acquire large French car repair e

2022-09-22
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Bridgestone will acquire speed, a large French car repair enterprise. On May 30, Bridgestone, a Japanese tire manufacturer, announced that it will acquire speed, a large French chain car repair enterprise. And signed an agreement with it to acquire the existing management and all shares, and the acquisition amount was not announced

speed is a non listed enterprise. It has about 500 stores using thin-walled materials in France and Belgium. In addition to car maintenance, it also sells auto supplies such as tires. The annual sales volume is about 200billion yen (about 11.9 billion yuan)

on October 27 last year, Bridgestone announced that it would purchase PEP boys, an American auto parts retailer, for $15, a total of $835 million in cash. But then it triggered the world's rich businessman Carl Icahn to compete with it, and began a two month bidding war. Finally, Bridgestone announced that it would give up and no longer match the offer of $18.5 per share, totaling $1.03 billion

in view of the decline in industry profits, Bridgestone has previously signed an acquisition agreement with PEP boys, and Icahn will pay Bridgestone $39.5 million as a "breakup fee"

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