From Nasdaq: 2025-01-07 21:16:00

Goodyear Tire & Rubber Company has agreed to sell the Dunlop brand to Sumitomo Rubber Industries, Ltd. for approximately $701 million. The sale includes trademarks and assets in Europe, North America, and Oceania. The deal is expected to close by mid-2025, with Goodyear using the proceeds to reduce leverage and fund transformation initiatives. Goodyear will continue to manufacture and sell Dunlop consumer tires in Europe until at least 2025 under a Transition License Agreement. The company will also supply Dunlop branded tires to Sumitomo Rubber Industries in Europe for five years under a Transition Offtake Agreement.

In 2023, Dunlop consumer tire sales reached $532 million, commercial tire sales were $201 million, and other specialty tire sales were $22 million. Goodyear will retain the Dunlop trademarks for its motorcycle tire businesses in Europe and Oceania.



Read more at Nasdaq: Goodyear Tire To Sell Dunlop Brand To Sumitomo Rubber Industries For About $701 Mln