Hankook Tire acquires all shares in JAX Tyres, Australia's largest tire retailer Hankook will directly acquire all shares of JAX Tyres Chairman Fred Hurrell and other shareholders and include JAX Tyres.
After completing the acquisition, Hankook Tire plans to expand its customer relationships by making the B2C distribution field a new business pillar and an extension of the B2B characteristics of the tire manufacturing industry.
Hankook said that the competitiveness and experience of JAX Tyres in the distribution field will become the new growth engine for Hankook Tire's global distribution business.
JAX Tyres opened its first store in Sydney, Australia in 1949 and currently operates 83 stores.
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