The Goodyear Tire & Rubber Company (Goodyear) (NASDAQ: GT) and Bridgestone Americas, Inc. (Bridgestone) today announced that TireHub LLC, a joint venture in passenger and light truck tire distribution, will begin serving customers the first week of July. The joint venture received clearance from all required regulatory authorities earlier this month, enabling the creation of one of the largest national tire distributors in the United States. The transaction is expected to close at the end of June.
TireHub will provide U.S. tire dealers and retailers with a comprehensive range of passenger and light truck tires from two of the world’s leading tire companies, with an emphasis on satisfying rapidly growing demand for larger rim diameter premium tires.
TireHub will combine Goodyear’s company-owned wholesale distribution network with Bridgestone-owned Tire Wholesale Warehouse (TWW). The transaction will enable Bridgestone and Goodyear to grow their respective tire businesses and capture enhanced value for their brands.
The joint venture immediately will have the scale to reach the vast majority of retail locations in the U.S. daily. As a new distribution company, TireHub will complement both companies’ networks of existing third-party distributors and provide a superior, fully integrated distribution, warehousing, sales and delivery solution.