“Hoosier’s management team has built an impressive business. We believe Hoosier Tire is well-positioned to continue its strong growth, and we look forward to supporting that development through our complementary knowledge and extensive footprint,” added Dr. Jochen Etzel, CEO of Continental Tire the Americas, LLC. “Hoosier’s management team will continue to run the racing tire business. We are committed to the employees and the communities in which Hoosier operates. We look forward to the future of working together to accelerate growth.”
Hoosier was founded in 1957 and has a legacy of technical product knowledge, quality manufacturing, outstanding service and consistent performance. Hoosier supplies tires for most racing applications throughout the world, with an emphasis on high performance and quality.
The company currently employs nearly 500 people.
“Continental and Hoosier share a similar vision for continued growth and sales excellence,” said Joyce Newton, Hoosier’s president and CEO. “Hoosier has fantastic brand recognition, a high-performing team, established customer relationships and a great lineup of products. This acquisition will provide a stronger and more sustainable organization for Hoosier moving ahead.”
Continental and Hoosier have worked together over the past several years on a variety of technical and motorsports projects. Continental is constantly looking to add talent to its team. The transaction will create significant opportunities for the employees of Hoosier and CTA.
Terms of the transaction were not disclosed.
CREDIT: Continental via PRNewsWire