It was announced today that Continental has acquired Hoosier Racing Tire Corp., but the Lakeville, Indiana-based brand will remain intact, according to Continental’s CEO.
Continental Tire, currently sponsors IMSA’s SportsCar Challenge series, as well as supplying tires to the majority of the cars in the WeatherTech SportsCar Championship, including all the Prototypes. Hoosier Racing Tire’s high-profile series include SCCA Trans-Am and IMCA [International Motor Contest Association].
Nikolai Setzer, executive board member for Continental’s tire business, described the move as “an exciting next addition to our product portfolio [that] will support our growth strategy, especially in the ultra high performance segment.
Dr. Jochen Etzel, CEO of Continental Tire the Americas, LLC, based in Fort Mill, South Carolina, added: “Hoosier’s management team has built an impressive business. We believe Hoosier Tire is well-positioned to continue its strong growth, and we look forward to supporting that development through our complementary knowledge and extensive footprint.
“Hoosier’s management team will continue to run the racing tire business. We are committed to the employees, and the communities in which Hoosier operates. We look forward to the future of working together to accelerate growth.”
Hoosier, which was founded in 1957, employs nearly 500 people. The company’s president and CEO Joyce Newton said: “Continental and Hoosier share a similar vision for continued growth and sales excellence.
“Hoosier has fantastic brand recognition, a high-performing team, established customer relationships and a great lineup of products. This acquisition will provide a stronger and more sustainable organization for Hoosier moving ahead.”