Goodyear Divests Dunlop Brand to Sumitomo Rubber in $701 Million Deal
Jan/10/2025
Goodyear Tire and Rubber Co. has announced the sale of its Dunlop brand to Japan’s Sumitomo Rubber Industries for $701 million, marking a step in the U.S. company’s ongoing reorganization efforts. Expected to close in the first half of the year pending regulatory approval, the deal will allow Goodyear to reduce debt and support its transformation initiatives. While the company will continue to sell Dunlop passenger car tires in Europe until year-end under a royalty arrangement, it retains long-term licensing rights to sell Dunlop commercial vehicle tires and exclusive rights for Dunlop motorcycle tires in Europe. Ranked as the third-largest tire producer globally with $17 billion in revenue in 2021, Goodyear remains a key player in a competitive industry dominated by Bridgestone and Michelin, with revenues of $30 billion and $28 billion, respectively.
