Reuters – Pirelli Buys Swedish Tire Company

Italian tire maker Pirelli said on Wednesday it had bought 100 percent of Swedish trre distributor Dackia Holding AB from private equity fund Procuritas Capital Investors and other investors for about 70 million euros ($87.20 million).

(Reuters) – Italian tyre maker Pirelli said on Wednesday it had bought 100 percent of Swedish tyre distributor Dackia Holding AB from private equity fund Procuritas Capital Investors and other investors for about 70 million euros ($87.20 million).

 

Pirelli said the acquisition will allow it to penetrate the Nordic markets of winter tires and it is part of its strategy to boost its position in premium and more profitable markets.

 

It said it aimed at becoming the main supplier of Dackia, which has an annual turnover of about 100 million euros. ($1 = 0.8028 euros) (Reporting By Danilo Masoni)