Goodyear buys Raben Tire

Goodyear has acquired Raben Tire Co. of Evansville, Ind., a long-time Goodyear dealership that's ranked among the 50 largest commercial and retail dealerships and retreaders in the U.S.

Goodyear said buying Raben Tire advances its "Connected Business Model" and enhances its ability to grow in the rapidly changing aftermarket tire business.

Financial terms were not disclosed.Raben Tire generates roughly more than $150 million annually from its activities in the retail, commercial and retreading business.

Founded in 1952 by Henry Raben, Raben Tireoperates over 30 commercial and consumer tire and service locations and three retread plants, including two that are Goodyear Authorized Retreading system plants. The locations are spread throughout six states — Arkansas, Illinois, Indiana, Kentucky, Missouri and Tennessee.

"The addition of Raben further expands our network and strengthens Goodyear's ability to serve fleets," Dave Beasley, vice president, Goodyear North America Commercial, said, noting that Goodyear operates nearly 800 company-owned commercial and retail tire and auto service centers throughout the U.S. and Canada.

Raben Tire CEO Scott Cisney said the dealership is pleased to "align with one of the most beloved and recognized brands in the world.

"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 L.L.C. , a middle market private equity firm, since 2014.