AKRON, Ohio — Goodyear Tire and Rubber Co. announced on Monday that it is expanding its company-owned presence in the Midwest by purchasing Raben Tire Co.
The acquisition will reportedly advance Goodyear’s connected business model and the company’s growth in the tire business by making it easier for consumers and fleets to buy and recommend Goodyear tires, according to a news release from the tire manufacturer.
Founded in 1952 and headquartered in Evansville, Ind., Raben is one of the largest tire and service companies in the Midwest and has vast operations that include over 30 commercial and consumer tire and service locations and retread production plants.
“The addition of Raben further expands our network and strengthens Goodyear’s ability to serve fleets,” said Dave Beasley, vice president of Goodyear North America Commercial. “Goodyear is already one of the world’s largest operators of commercial truck service and retreading centers and has nearly 800 company-owned commercial and retail tire and auto service centers across the U.S. and Canada.”
Raben offers a diverse portfolio of commercial and consumer products. With its full suite of mechanical and tire services and a team of commercial vehicle technicians, Raben has serviced thousands of customers annually, according to Goodyear.
“We’re pleased to join the Goodyear family of industry-leading products and services and align with one of the most beloved and recognized brands in the world,” said Scott Cisney, CEO of Raben. “Like Raben, Goodyear puts customers at the center of everything. We look forward to increasing the availability of Goodyear products when and where customers want to buy as part of Goodyear’s aligned network of distributors and retailers.”
Raben has been owned by affiliates of Palladium Equity Partners LLC, a middle-market private equity firm with approximately $3 billion in assets under management, since 2014, according to Goodyear.