Two of the biggest remaining American tire companies are joining forces. Goodyear Tire & Rubber Co. is acquiring Cooper in a deal with an equity value of $2.8
Two of the biggest remaining American tire companies are joining forces. Goodyear Tire and Rubber Co. is acquiring Cooper in a deal valued at USD 2.5 billion that will combine the two century-old Ohio manufacturers. Cooper, founded in 1914, is the 5th largest tire maker in North America based on revenue. The company has about 10,000 employees in 15 countries. In addition to the Cooper brand, it also owns Mastercraft, Roadmaster and Mickey Thompson. For Goodyear, the bigger company, the deal will nearly double its presence in China. Cooper will get access to Goodyear s 2,500 retail locations. The auto industry navigated a whirlwind year with the pandemic and all of the economic disruptions that accompanied it.
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