Magna Tyres Group has announced the acquisition of Telescope Tyres Group, a prominent Australian tyre and service specialist operating multiple branches across regional New South Wales.
The deal, set to close in January 2026, represents a significant milestone in Magna Tyres' international expansion strategy and reinforces the company's commitment to strengthening its position in the Australasian market.
Telescope Tyres brings a well-established local brand, strong customer relationships, and comprehensive service capabilities to the Magna portfolio. The acquisition will see Telescope continue trading under its existing brand name in the near term, whilst benefiting from integration with Magna's global resources, systems, and operational network.
The acquisition is particularly significant for Magna Tyres Australia (MTA), as it establishes a strong presence on the country's east coast. This complements the company's 2021 acquisition of Fennell Tyres International on Australia's west coast, creating a coast-to-coast operational capability.
Aldo Gismondi, Managing Director of Magna Tyres Australia, revealed that the acquisition brings consolidated annual revenue to between AUD 75-80 million. "The Telescope acquisition strategically positions MTA on the East Coast given the acquisition of Fennell Tyres International on the West Coast of Australia in 2021," he said.
Michael de Ruijter, CEO of Magna Tyres Group, emphasised the strategic importance of the Australian market: "Australia is a vital market in our international growth strategy, and Telescope Tyres is a highly respected name with a strong local reputation. Their customer focus and service quality align perfectly with Magna's values. Together, we will build a stronger, more capable business that can serve customers with even greater efficiency and reliability."
Nathan Johnston, Managing Director of Telescope Tyres Group, welcomed the partnership: "Joining Magna Tyres marks an exciting new chapter for our company, our people and our customers. We are proud of our local heritage and long-standing relationships, and with Magna's global expertise and resources, we are well-positioned to deliver even greater value whilst staying true to who we are."
Telescope Tyres' management team and employees will remain in their current roles following the acquisition. Magna Tyres has committed to investing in technology, training, and infrastructure to support sustainable growth across the combined operation.
The companies also indicated that the merged entity will explore additional opportunities to strengthen its network across both Australia and New Zealand, suggesting further expansion may be on the horizon.
The acquisition continues Magna Tyres Group's pattern of strategic growth through acquisitions in key international markets, building a global network of tyre distribution and service operations.
Tagged with: Magna Tyres acquisition, Telescope Tyres Australia, OTR tyres, fleet tyre service, Australian tyre market, tyre distribution, branch network, east coast coverage, Australasian expansion, mining tyres, industrial tyres, ACCC merger guidance
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