The Goodyear Tire & Rubber Company has purchased the Raben Tire Company/Raben Tires & Service (Evansville, IN), expanding its company-owned store footprint in the Midwest. Raben has more than 30 commercial and consumer tire and service locations, as well as retread production plants. Terms of the transaction were not disclosed.
“The addition of Raben further expands our network and strengthens Goodyear’s ability to serve fleets,” said Dave Beasley, vice president of Goodyear North America Commercial. “Goodyear is already one of the world’s largest operators of commercial truck service and retreading centers and has nearly 800 company-owned commercial and retail tire and auto service centers across the U.S. and Canada.”
Palladium Equity Partners has owned Raben Tires & Service, in partnership with the Raben family, since 2014.
BB&T Capital Markets was the exclusive financial adviser to Raben.