Goodyear Completes Sale of Dunlop Brand
- On May 7, 2025, Goodyear finalized the sale of its Dunlop brand rights for Europe, North America, and Oceania to Sumitomo Rubber Industries.
- Goodyear sold the Dunlop brand, including consumer, commercial, specialty tires, related intellectual property, and inventory to reduce leverage as part of its Goodyear Forward transformation plan.
- The transaction closed with gross cash proceeds of $735 million, consisting of $526 million for the brand, $105 million for transition support, and $104 million for inventory.
- Goodyear CEO Mark Stewart stated that the sale supports portfolio optimization, lowers debt levels, and enhances focus on key brands, while highlighting ongoing advancements in operational changes and expansion within priority market segments.
- Goodyear intends to use sale proceeds to lower debt, supporting its strategic transformation, with Goldman Sachs and Barclays acting as financial advisors and Cleary Gottlieb as legal advisor.
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Goodyear Completes Sale of Dunlop Brand
AKRON, Ohio, May 7, 2025 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "Company") has completed the previously announced sale of the Company's rights to the Dunlop brand in Europe, North America and Oceania for…
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