Global Rubber Industries (GRI) has acquired Nortire Group A.S., an Estonian tyre and wheel distributor, to help expand its distribution in Europe.
Nortire distributes industrial, construction and agricultural tyres and wheels, rubber and steel tracks, polyurethane wheels and castors, axles and stub axles for agricultural and forest trailers, and offers related services in Northern Europe.
Terms of the deal were not disclosed.
In addition to its headquarters in Estonia, Nortire has two distribution facilities in Lithuania and one in Latvia, covering a large swathe of Northern Europe that includes Finland, Estonia, Latvia, Lithuania, Belarus and Western Russia.
GRI hopes the acquisition will help it gain a foothold in the North European market.
"This milestone will prove to strengthen and build upon the geographical outreach of GRI," says GRI managing director Prabhash Subasinghe. "The Nortire Group is ... recognised as the market leader in the product offering of materials handling tyres. This competitive advantage will propel GRI's success in the market."