Goodyear sells Dunlop brand to Sumitomo Rubber Industries
Transaction valued at approximately $701 million supported Goodyear's portfolio rationalisation strategy. The Goodyear Tire & Rubber Company announced that it had entered into a definitive agreement to sell the Dunlopbrand to Sumitomo Rubber Industries(SRI), covering trademarks and related intangible assets used for consumer, commercial and specialty tyres across Europe, North America and Oceania. The transaction followed Goodyear's previously disclosed strategic review of the Dunlop brand as part of its Goodyear Forward transformation programme. Under the terms of the agreement, Goodyear was to receive gross cash proceeds of approximately $701 million at closing, subject to customary regulatory approvals and closing conditions. The deal was expected to close by mid-2025.