Dunlop Brand Changes Hands: Goodyear Strikes $701 Million Deal with Sumitomo To Power Forward Plan

Benzinga01-08 21:50

The Goodyear Tire & Rubber Company (NASDAQ:GT) shares are trading flat premarket on Wednesday. On Tuesday, the company entered a deal to sell its Dunlop brand to Sumitomo Rubber Industries (SRI) for ...

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On Tuesday, the company entered a deal to sell its Dunlop brand to Sumitomo Rubber Industries (SRI) for ...</p>\n\n<a href=\"https://finance.yahoo.com/news/dunlop-brand-changes-hands-goodyear-135019437.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B19Z4B17.USD","symbol_name":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/dunlop-brand-changes-hands-goodyear-135019437.html","article_id":"2501720198","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501720198","pubTimestamp":1736344219,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The Goodyear Tire & Rubber Company  shares are trading flat premarket on Wednesday. On Tuesday, the company entered a deal to sell its Dunlop brand to Sumitomo Rubber Industries  for cash proceeds of around $701 million.The purchase amount covers the brand transfer across Europe, North America, and Oceania, a transition support fee, and Dunlop tire inventory purchase.The deal also includes ongoing offtake, licensing, and other commercial arrangements.Dunlop brand includes trademarks and related intangible assets for consumer, commercial, and specialty tires across Europe, North America, and Oceania.Post-TLA, Goodyear will supply SRI with a minimum of 4.5 million Dunlop tires annually for five years under the Transition Offtake Agreement, with SRI able to terminate after three years, subject to a fee. 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On Tuesday, the company entered a deal to sell its Dunlop brand to Sumitomo Rubber Industries (SRI) for cash proceeds of around $701 million.\nThe purchase amount covers the brand transfer across Europe, North America, and Oceania, a transition support fee, and Dunlop tire inventory purchase.\nThe deal also includes ongoing offtake, licensing, and other commercial arrangements.\nDunlop brand includes trademarks and related intangible assets for consumer, commercial, and specialty tires across Europe, North America, and Oceania.\nAs per the deal, Goodyear will continue producing and distributing Dunlop consumer tires in Europe until at least December 31, 2025, paying royalties to SRI while retaining all profits.\nThe agreement automatically extends through December 31, 2026, unless mutually terminated earlier, giving SRI time to scale its operations.\nPost-TLA, Goodyear will supply SRI with a minimum of 4.5 million Dunlop tires annually for five years under the Transition Offtake Agreement, with SRI able to terminate after three years, subject to a fee. Goodyear will earn a markup on each tire sold.\nGoodyear will also retain rights to the Dunlop motorcycle tire brand in Europe and Oceania and license back Dunlop trademarks for commercial tires in Europe.\nThe transaction, expected to close by mid-2025, is subject to regulatory approvals, customary closing conditions, and consultations.\nGoodyear plans to use the proceeds to reduce debt and support initiatives under its Goodyear Forward transformation plan.\nThe transaction is expected to reduce Goodyear’s segment operating income by $65 million annually during the TOA, excluding benefits from debt repayment and other initiatives.\nInvestors can gain exposure to the stock via Invesco S&P Midcap 400 Pure Value ETF (NYSE:RFV).\nPrice Action: GT shares were up 0.23% at $8.85 premarket at the last check Wednesday.\nRead Next:\n\nBaby, It’s Cold Outside: These 5 Winter-Ready Stocks Have What It Takes To Make You Feel Warm And Cozy\n\nPhoto via Shutterstock.\nUNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.\nGet the latest stock analysis from Benzinga?\n\nGOODYEAR TIRE & RUBBER (GT): Free Stock Analysis Report\n\nThis article Dunlop Brand Changes Hands: Goodyear Strikes $701 Million Deal with Sumitomo To Power Forward Plan originally appeared on Benzinga.com\n© 2025 Benzinga.com. Benzinga does not provide investment advice. 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