Magna Tyres Takes Giant Step Forward with Acquisition of Tirepoint

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Magna Tyres
Published on
February 6, 2023

The Magna Tyres Group has expanded its global presence with the acquisition of Tirepoint, one of South Africa's largest tire dealers and service providers. Founded in 2004, Tirepoint operates in the Gauteng, KZN, and Western Cape regions, offering a strong foundation of tire industry experience and a customer-first approach.

As an independent, multi-brand organization with strong supplier relationships, Tirepoint is a valuable addition to the Magna Tyres Group's global network, supporting the company's goal of becoming the largest second-tier supplier of Off-the-Road tires and service provider in the world. The acquisition also accelerates Magna Tyres' growth on the African continent.

Financial details of the acquisition are not disclosed. The CEO of Tirepoint, Andrew Cameron, said that this transaction offers exciting benefits for customers and provides a new chapter in Tirepoint's life as a part of Magna Tyres' success. Magna Tyres is a family-owned company that strives to form valuable business partnerships around the world and provides the best tire solutions to keep companies moving. The company's ultimate goal is to reinforce its position in the global market as the largest second-tier supplier of Off The Road tires, including Mining & Earthmoving, Underground Mining, Construction, Port & Terminal, Mobile Crane, Solid, and Truck tires.

This acquisition is a crucial step in Magna Tyres' well-executed "Buy & Build" strategy, which is aimed at surpassing its turnover of €600 million before 2026. With over 700 dedicated employees across the globe, the company's reputation as a highly active and experienced OTR and industrial tire designer and manufacturer is well established in the industry. The company prides itself on offering the best tire solutions to meet individual operational needs and keeps companies constantly on the move.

Magna Tyres' President & CEO, Michael de Ruijter, expressed excitement about welcoming Tirepoint to the Magna Tyres Group family. He said that Tirepoint's expertise and excellent reputation, combined with its ability to provide tailored solutions to customers, makes it a perfect fit for the company's "Customer First" mentality. The acquisition of Tirepoint strengthens Magna Tyres' position as the largest second-tier supplier of Off-the-Road tires and service provider in the world and marks a significant step forward in the company's growth strategy.

The acquisition brings together two companies with a shared vision and commitment to providing the best tire solutions to meet customer needs. With Tirepoint joining the Magna Tyres Group, the company's global footprint continues to expand, and its position as a leading player in the tire industry is further strengthened.


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