Yahoo Autos Goodyear Buys Cooper Tire
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What does this mean for enthusiasts?
Goodyear Tire & Rubber Company announced on February 22 that it will acquire Cooper for a total enterprise value of $2.5 billion. Both are Ohio-based tire manufacturers and have loyal followings, so the hope is the union will help preserve the tire industry in this country for the long haul. An official press release from both companies focuses on the ability to capture more of the lucrative light truck and SUV tire market. However, some enthusiasts are anxious about what this means for the tires they’ve grown to depend on.
Learn why Edelbrock is moving its headquarters from California here.
Cooper is the 5th-largest tire manufacturer in North America when measuring by revenue. It owns several brands which performance enthusiasts love, including Mickey Thompson, Mastercraft, and Roadmaster. Supposedly, none of those brands will be going away, but it remains to be seen if their lineups will change much under the union.
This move should put Goodyear in a better position to compete as one of the largest tire manufacturers in North America. It shares the top three spots on this continent with Michelin and Bridgestone.
For regular people, car tires are something they absentmindedly replace every once in a while, going with about the cheapest option they can find unless a tire store employee talks them into upgrading a little. For enthusiasts looking to get the most out of their ride, tires are supremely important. As the only thing of a vehicle which should be contacting the road surface, they directly impact just about every performance metric. This is why for many enthusiasts the brand of tires they run on their vehicle is critical, and for some of us Cooper Tires has become a go-to.
Finalization of this deal is supposed to come about in the second half of 2021. Headquarters of the company will be located in Akron, Ohio but there will still be offices in Findlay, Ohio where Cooper is currently based.
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