Continental has acquired the assets and business of CRP Industries’ Continental-related belt and belt kits program. The move brings all of Continental’s products sold in North America under its own North American aftermarket business. Financial terms of the transaction were not disclosed.
The acquisition is effective immediately. There will be a “gradual transition process,” according to an Oct. 7 announcement from Continental.
The acquisition specifically comprises import and domestic Continental-branded multi-v belts, accessory drive kits, v-belts, timing belts, Pro Series kits, Pro Series Plus kits and Black Series kits.
“This integration will help us to be one of the leading providers in the import market,” Rolf Sudmann, who is heading the global automotive aftermarket belt business within Continental, said in the aforementioned announcement.
CRP Industries will continue selling other non-Continental brands in the aftermarket, including Rein Automotive parts, Pentosin technical fluids, Ajusa gaskets and AAE Steering products.
“We are proud to have built the Continental brand in the market,” Dan Schildge, CEO of CRP Industries, said in the announcement. “This transaction brings alignment to the Continental product lines while allowing CRP to focus on further defining our brand and product offering … .”
CRP Mexico will continue to sell and market Continental brands as a master distributor.