(Jun. 13) – Pirelli, in line with its strategy of reinforcement on markets with strong growth in high-end, high margin segments, has acquired 100% of the capital of Däckia Holding AB, one of the main multi-brand tyre distribution chains in Sweden from the private equity group Procuritas Capital Investors IV LP and minority shareholders for 625 million kronor, or approximately 70 million euros. With the acquisition of Däckia, Pirelli gains a distribution platform which will accelerate its penetration of the Nordic countries, a natural market for winter tyres, which contain a high level of high-performance components. In Sweden, in particular, of the 4.4 million pieces which constituted total tyre demand in 2011, over 60% were winter tyres, a segment which last year grew by 5% in a local market which was largely flat. This demand, in line with Pirelli’s ‘local for local’ approach, will be satisfied with tyres produced in the recently acquired plants in Russia, in particular in Voronezh which specializes in the high-end segment. As foreseen in the strategy of the 2012-2014 Industrial Plan, presented in London last November, the acquisition of Däckia represents a further reinforcement of Pirelli’s commercial presence at the international level on markets characterized by growing demand in the most profitable market segments, a goal which recently saw the company also acquire a majority stake in the Brazilian distribution network Campneus. (Red)
