Continental Buying Aus­tralian Tire, Service Chain

Continental AG is acquiring Kmart Tyre & Auto Service (KTAS), one of Australia’s largest tire and auto service chains with 258 locations and more than 1,200 employees, mainly in the eastern and southeastern coastal regions. The seller is Wesfarmers Limited of Australia. The deal is worth about $255 million.

The move expands Continental’s presence in the Australian market, which already includes the BestDrive and Continental branded retail network.