Continental acquires Hoosier for undisclosed sum
Continental has acquired Indiana-based specialty tire manufacturer Hoosier Racing Tire Corporation.
There’s no word yet on how much the global tire and technology giant paid for Hoosier but Continental executive board member Nikolai Setzer indicated the acquisition was a part of its Vision 2025 long-term growth strategy, which included expanding Continental’s ultra high performance offering.
Hoosier was founded in 1957 and has a legacy of technical product knowledge, quality manufacturing and consistent performance. The company supplies tires for most racing applications throughout the world. Continental and Hoosier have worked together over the past seven years on a variety of technical and motorsports projects.
Hoosier currently employs nearly 500 people and Hoosier’s existing management team will continue to run the business.
Continental Tire of the Americas president Jochen Etzel said Hoosier’s management team had built “an impressive business” and Continental was committed to the racing tire manufacturer’s employees and communities.
Continental takes on the Hoosier team
“We believe Hoosier Tire is well-positioned to continue its strong growth and we look forward to supporting that development through our complementary knowledge and extensive footprint,” Etzel said. “We look forward to the future of working together to accelerate growth.”
Hoosier president and chief executive Joyce Newton said the two companies had a similar vision for growth and sales.
“Hoosier has fantastic brand recognition, a high-performing team, established customer relationships and a great line-up of products,” she said. “This acquisition will provide a stronger and more sustainable organization for Hoosier moving ahead.”