Japan’s Marubeni Corporation acquires TiAuto Investments
Japan-based trading and investment company Marubeni Corporation has acquired South Africa’s automotive retail and services group TiAuto Investments.
Founded in 1967, TiAuto is an automotive aftermarket business operating a portfolio of brands including Tiger Wheel & Tyre, Tyres & More and Treads Unlimited.
The group operates 161 stores across South Africa, Botswana, Namibia, Zimbabwe and Zambia.
Marubeni has global experience in the automotive maintenance sector, with established operations in Asia and Latin America.
The TiAuto acquisition is Marubeni’s first investment in the African automotive maintenance market.
“This is an exciting new chapter for TiAuto,” says TiAuto Investments CEO Alex Taplin.
“Marubeni's investment is a strong endorsement of our strategy, our market position and the opportunities that lie ahead.”
Taplin says the transaction will provide TiAuto with access to global expertise, additional resources and international best practices, while maintaining the local leadership, customer focus and entrepreneurial culture that he believes have been central to the group’s success.
For customers, suppliers, franchise partners and employees, business is set to continue as usual.
“Our focus remains firmly on our customers and our people,” says Taplin.
“By combining TiAuto's deep understanding of African markets with Marubeni's global capabilities, we will be well positioned to strengthen our offering, enhance customer experiences and continue investing in the future of our business.”
The transaction is subject to regulatory approvals and closing conditions.
The transaction value was not disclosed.
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