Bridgestone EMEA announces the planned acquisition of 100% of Speedy France, a leading car service retail company and one of the most important tyre networks in France.
The finalisation of the acquisition is subject to approval by the regulatory authorities.
Teaming up with Speedy will increase Bridgestoneâ€™s direct access to the end-users in France, one of its core European markets, as well as in other markets where Speedy has a presence. Once this transaction has been approved, the companyâ€™s presence in France will be expanded to more than 800 retail outlets, strongly contributing to its accelerated growth strategy.
â€œWe are delighted with todayâ€™s announcement,â€ said Eduardo Minardi, Executive Chairman and CEO of Bridgestone EMEA. â€œWe consider Speedy to be a strong strategic fit, with a premium customer mix, extended geographical coverage and a focus on service quality. Furthermore, Speedy has a strong brand recognition and an innovative mindset. I would also like to take the opportunity to warmly welcome the Speedy franchisees and to thank them for their contribution to make Speedy a great service provider. Given Speedyâ€™s performance improvements in the past years, we want its CEO Jacques Le Foll and his team to continue to manage their activities in line with their strategic plan.â€
A service network extension of this nature also provides Bridgestone with a unique opportunity to gain a better understanding of end-users, which is essential to continue building a leading position.
Speedyâ€™s CEO, Jacques Le Foll:
â€œTeaming up with the worldâ€™s number 1 player of the tyre industry is excellent news for Speedy, its suppliers, franchisees and its customers. The association with Bridgestone will provide us support to ensure Speedyâ€™s development while ensuring continuity on our strategic principles: quality, customer service, innovation and pioneer spirit. Consequently, this is a win-win situation for both key players and we look forward to working towards the next phase of Speedyâ€™s future development and growthâ€.
Tyres being such a critical component in Speedyâ€™s range of products and services, Bridgestoneâ€™s expertise in this area will be a crucial asset in Speedyâ€™s further development.
Speedy is the specialist network for comprehensive diagnostic and car maintenance. Since 1978, Speedy has considerably stretched its activities from its original exhausts specialty to OEM servicing, tyres, brakes, shocks, belts, air conditioning, glass, electronics… Speedy build its growth on key assets : its brand awareness and image, its 500-POS network, its unique training center, its customer-oriented culture, its growing fleet business and its innovations.