The Goodyear Tire & Rubber Co. has agreed to acquire Evansville, Indiana-based Raben Tire Co. The purchase advances Goodyear’s connected business model and is expected to enable Goodyear’s ability to win and grow in the rapidly changing tire business by making it easier for consumers and fleets to buy and recommend Goodyear tires.
Founded in 1952, Raben is one of the largest tire and service companies in the Midwest and has vast operations that include over 30 commercial and consumer tire and service locations and retread production plants.
“The addition of Raben further expands our network and strengthens Goodyear’s ability to serve fleets,” Goodyear North America Commercial Vice President Dave Beasley said in a statement. “Goodyear is already one of the world’s largest operators of commercial truck service and retreading centers and has nearly 800 company-owned commercial and retail tire and auto service centers across the U.S. and Canada.”
Raben CEO Scott Cisney added: “We’re pleased to join the Goodyear family of industry-leading products and services and align with one of the most beloved and recognized brands in the world. Like Raben, Goodyear puts customers at the center of everything. We look forward to increasing the availability of Goodyear products when and where customers want to buy as part of Goodyear’s aligned network of distributors and retailers.”
Raben has been owned by affiliates of New York-based Palladium Equity Partners LLC, a middle-market private equity firm with approximately $3 billion in assets under management, since 2014.
Akron-based Goodyear is one of the world’s largest tire companies, employing about 64,000 people. The company manufactures its products in 47 facilities in 21 countries around the world.