The Goodyear Tire and Rubber Co., an American tyre manufacturing company that has successfully created multinational tyre empire is expanding its company-owned presence in the north central region of the United States commonly known as the Midwest. The company announced that it has successfully completed a move to purchase the Raben Tire Company based in Evanseville, Indiana.
The Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling and is based in Akron, Ohio. The company was named after an American - Charles Goodyear, the inventor of vulcanized rubber. The company has approx. 66,000 employees under its belt with 49 plants in 22 countries. Almost 90 years ago, the company entered the Indian market in 1922 and has successfully set up two manufacturing units in Ballabgarh and Aurangabad.
It honestly comes as no surprise that Goodyear made a move for Raben. Founded in 1952, Raben has powered through the tyre market in the Midwest to establish itself as one of the largest tyre and service companies in the region. Headquartered in Evansville, Indiana, the company boasts of vast operations that include over 30 commercial and consumer tyre and service locations and retread production plants; presenting Goodyear with a perfect opportunity to strengthen its position in the Midwest.
Prior to the aquisition, Raben was owned by affiliates of Palladium Equity Partners, a New York based private equity firm with approximately $3 billion in assets.
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Speaking about the aquisition,Dave Beasley, vice president, Goodyear North America Commercial, said:
“The addition of Raben further expands our network and strengthens Goodyear’s ability to serve fleets”. Goodyear is already one of the world’s largest operators of commercial truck service and retreading centers and has nearly 800 company-owned commercial and retail tyre and auto service centers across the U.S. and Canada.”
via press release
Its been a long journey to success for Raben, a company with humble beginnings. Starting from just one location in Evansville, Indiana, Raben has come a long way since 1952 and now has an extremely diverse product portfolio that includes passenger, light truck, farm, heavy truck, off road OTR, industrial, motorcycle, ATV, and all mechanical and tyre services.
With more than 60 years in the industry, the company's workforce have essentially become industry experts with years of knowledge and training with respect to the tyre industry.
Scott Cisney, CEO of Raben, commented:
“We’re pleased to join the Goodyear family of industry-leading products and services and align with one of the most beloved and recognized brands in the world. Like Raben, Goodyear puts customers at the center of everything. We look forward to increasing the availability of Goodyear products when and where customers want to buy as part of Goodyear's aligned network of distributors and retailers"
via press release
As part of Goodyear’s company-owned network, Raben Tire can now offer its customers more locations, products and services as a wholly owned subsidiary and as a part of the Goodyear company-owned network.
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