Michelin acquires Levorin, a Brazilian manufacturer of bicycle and motorcycle tires
The Michelin Group announced today that it has acquired Levorin, a Brazilian manufacturer of bicycle and motorcycle tires.
This family business which was founded in 1943 by Hercules Levorin has specialized in the production of tires for the commuter segment in Brazil. In 2015 Levorin had an annual turnover of €135 million and employs 2,000 people at its two plants in Sao Paulo and Manaus.
This acquisition has two strategic objectives for Michelin: to consolidate its presence in Brazil and strengthen the global development of its 2 Wheel tire ranges. More specifically to strengthen its position in the significant, and expanding, commuter segment and complement the range of tires currently offered by Michelin, which are historically oriented towards the high-end 2 Wheel leisure market. For Levorin, this acquisition will provide the resources to ensure its future growth and sustainability.
The offer to purchase was signed today between Levorin and Michelin, and is subject to closing conditions and also subject to the approval of the Brazilian competition authorities.