Goodyear announced that it has completed its acquisition of Cooper Tire & Rubber Company, finalizing the merger agreement made public on February 22. 

“We are excited to officially bring Goodyear and Cooper together and unite our shared focus on customers, innovation and high-quality products and solutions.

“This combination strengthens Goodyear’s ability to serve more consumers globally and provides increased scale to support greater investments in new mobility and fleet solutions,” said Richard J. Kramer, Goodyear Chairman, President & CEO.

The acquisition of Cooper by Goodyear is expected to:

Strengthen Goodyear’s Position in Global Tire Industry.

The acquisition further strengthens Goodyear’s leading position in the U.S., while significantly growing its position in other North American markets.

Combine Two Complementary Brand Portfolios with a Comprehensive Offering across the Value Spectrum.

The combined company will have the opportunity to leverage the strength of Goodyear OE and premium replacement tires, along with the mid-tier power of the Cooper brand, which has particular strength in the light truck and SUV segments.

Create Additional Value from Manufacturing and Distribution.

Opportunities for expansion of select Cooper facilities are expected to increase capital efficiency and flexibility. Additional revenue growth opportunities are expected to result from the addition of the Cooper brand to Goodyear’s global distribution network.

Increase Scale to Support Investments in New Mobility and Fleet Solutions.

The combined company will offer tire products and a broad selection of services through Goodyear’s relationships with traditional and emerging original equipment manufacturers; autonomous driving system developers; new and established fleet operators; and other mobility platforms.

As a result of the closing, Cooper’s common stock will cease to be traded on the New York Stock Exchange.