Recently, Continental AG announced that it has signed an acquisition agreement with Reifen John, a family-owned tire dealer. After the transaction is completed, Continental's sales network in Germany and Austria will add 32 new stores. The specific transaction amount of this acquisition was not disclosed.
It is reported that Reifen John was founded in 1926, and all its sales outlets will mainly sell Continental's tires in the future. Among them, 11 branches directly merged into the mainland group's sales network, and another 21 stores will still operate under the name of Reifen John. The general manager of Reifen John said that cooperation with the tire giant Continental Group will help meet future market challenges. It is understood that Continental currently has 450 sales outlets in Germany and 42 outlets in Austria.