Goodyear Announces Sale of Dunlop Brand to Sumitomo Rubber Industries
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Goodyear Tire & Rubber Company has announced the sale of the Dunlop brand to Sumitomo Rubber Industries for approximately $701 million. This move is part of Goodyear's strategy to optimize its brand portfolio. Goodyear will continue to supply Dunlop tires to Sumitomo under a five-year agreement and retain rights to Dunlop trademarks for certain tire categories.
January 08, 2025 | 2:15 am
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Goodyear has sold the Dunlop brand to Sumitomo for $701 million, which is expected to advance its transformation plan and optimize its brand portfolio. Goodyear will continue to supply Dunlop tires to Sumitomo under a five-year agreement.
The sale of the Dunlop brand for $701 million provides Goodyear with significant cash proceeds, which can be used to further its transformation plan. The continued supply agreement ensures ongoing business relations and revenue streams.
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