Pneuhage Management GmbH & Co. KG and Bridgestone Deutschland GmbH intend starting a joint venture. Bridgestone would like to focus on First Stop Deutschland and its subsidiaries including all the branches, the retreading companies and the First Stop partner network. The current company names First Stop and Reifen Seher and their brand presentations are to be kept.
Pneuhage Partners Group GmbH & Co. KG is supposed to function as platform of the joint venture, as Pneuhage founded it for investments in marketing and service concepts. Competition authorities of the European Commission received respective plans for approval. When the approval process of the European Commission will be finished, Bridgestone is to receive a share of 25 per cent in Pneuhage Partners Group GmbH & Co. KG, whereas Pneuhage Management GmbH & Co. KG is supposed to keep 75 per cent. According to responsible people, the independence of the Pneuhage Group will not be affected by the joint venture. Pneuhage Management GmbH & Co. KG as well as all the existing subsidiaries with a participation of a 100 per cent will remain for a 100 per cent in the hands of the owner Peter Schütterle.
The involved parties hope to benefit from free entrepreneurial management and competence in the retail business on the part of Pneuhage in order to achieve sustainable growth and an increased presence for the customers. Yves Kerstens, COO at Bridgestone EMEA, says: We are convinced that the partnership with Pneuhage will create a brilliant future for First Stop and its employees”. Peter Schütterle, owner of the Pneuhage Group, comments: “We are highly honoured to be responsible for the management of First Stop in the future and consider this as a symbol of appreciation of free tyre trade as business model.”
(kle)
