Michelin acquires stake in Two Tyre Companies

Article Source: Tyreline Distributors

International tyre manufacturer Michelin has purchased a 25% stake in two Hamilton companies, Tyreline Distributors Limited and Beau Ideal Limited, which trades as Beaurepaires.

Both Tyreline and Beau Ideal are owned by the Rushbrooke family, who will retain 75 percent ownership in their businesses.

Michelin, headquartered in France, is one of the world’s most well-known brands and is on the 2017 Fortune 500 list.

Tyreline Distributors Limited is a tyre and lubricants importer and wholesaler headquartered in Hamilton, with warehouses in Hamilton, Auckland and Christchurch. Tyreline was founded by Grant and Barbara Rushbrooke (pictured) in 1989 as an agricultural tyre distributor. In the early days of their business, the Rushbrookes operated out of their farm’s hay barn in Te Awamutu, and made deliveries to customers in their farm ute. The company has grown over the years, winning the respect and partnership of the automotive industry’s leading businesses, including international companies such as Michelin and Shell. “Our relationship with Michelin goes back a long way,” says Mr Rushbrooke. “We are thrilled to welcome them as a long-term partner and shareholder of our companies.”

Tyreline first partnered with Michelin in 1998 when it became the New Zealand distributor for Michelin earthmover and industrial tyres. In 2007 Tyreline became Michelin’s distributor for passenger car, truck and bus products in New Zealand. In 2011 the Tyreline retread factory became the first factory in Oceania to receive accreditation to produce Michelin branded retreads. “It’s exciting to start 2018 off with this news,” says Mr Rushbrooke. “It demonstrates Michelin’s commitment to the New Zealand market and their confidence in both Tyreline and Beaurepaires as sustainable partners.”

Mr Rushbrooke says Tyreline and Beaurepaires are not only in the business of selling tyres, but providing mobility solutions, and Michelin shares that vision. “Michelin is a global leader and innovator in their field. They invest more than NZ$1 billion every year into research and development. We also embrace innovations in technology and sustainability in the rapidly evolving automotive market.”

Michelin Asia Pacific director Hock Sen Chan says Tyreline and Michelin have a lot in common, and their long-standing relationship encouraged Michelin’s investment. “We share the same values of respect of customers and innovation, and we will work together to explore new avenues of business and progress for the automotive market in New Zealand,” says Mr Chan. “Our investment is to reinforce our commitment to Tyreline and to the New Zealand market, promoting daily safer and better mobility for all the New Zealand consumers.” He adds: “We have always been impressed with Tyreline’s professionalism and passion when representing the Michelin brand. The integrity of Tyreline’s business conduct is the foundation of our long-term business relationship.”

Mr Rushbrooke says the success of the company was down to a strong, committed team with years of experience in the automotive industry, and the relationships they had developed with valued customers and partners across New Zealand.

In June 2017 Tyreline also announced its partnership with multinational energy company Shell when it was named as the new New Zealand distributor for Shell Lubricants, who are also focused on the future of mobility solutions. Mr Rushbrooke says the partnership and investment from Michelin puts the Tyreline Group in a very strong position for future growth.

Credit: https://www.tyreline.co.nz/2018/01/30/michelin-purchases-25-percent-share-in-tyreline-and-beaurepaires/