Divestiture • Automotive

Textron Acquires Pirelli Tyres - General Rubber Goods Division

On September 15, 1997, Textron acquired automotive company Pirelli Tyres - General Rubber Goods Division from Pirelli Tyres

Acquisition Context
  • This is Textron’s 6th transaction in the Automotive sector.
  • This is Textron’s 2nd transaction in the United Kingdom.

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M&A Deal Summary

Date September 15, 1997
Target Pirelli Tyres - General Rubber Goods Division
Sector Automotive
Buyer(s) Textron
Sellers(s) Pirelli Tyres
Deal Type Divestiture

Target Company

Pirelli Tyres - General Rubber Goods Division

United Kingdom
Pirelli Tyres - General Rubber Goods (GRG) Division is a maker of seat comfort system products for automotive and home/office applications.
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Buyer Overview 1

Buyer

Textron

Providence, Rhode Island, United States

Category Company
Founded 1923
Sector Diversified
Employees34,000
Revenue 13.7B USD (2024)
DESCRIPTION
Textron's corporate headquarters in downtown Providence, Rhode Island.
Textron's corporate headquarters in downtown Providence, Rhode Island.

Textron is a multi-industry company that leverages a global network of aircraft, defense, industrial and finance businesses to provide customers with products and services around the world. Textron was founded in 1923 and is based in Providence, Rhode Island.


Deal Context for Buyer #
Overall 12 of 48
Sector: Automotive 6 of 12
Type: Divestiture 4 of 8
Country: United Kingdom 2 of 7
Year: 1997 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-07-28 Kaywood Products

Jackson, Michigan, United States

Kaywood Products Corp. is a maker of precision machined parts and components for assembled camshafts. Assembled camshafts are lower in weight and the precision technology also helps with today's compact multi-valve engines.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-12-02 Brazaco Mapri Industrias S.A.

São Paulo, Brazil

Brazaco Mapri Industrias, S.A. is a manufacturer of automotive fasteners as well as specialty and standard screws, bolts and nuts, is the leading fastener supplier to the South American operations of automotive manufacturers Fiat, Ford, GM, Mercedes and VW.

Buy $70M

Seller Profile 1

SELLER

Pirelli Tyres

Staffordshire, United Kingdom

Category Company
Founded 1991
Sector Automotive
DESCRIPTION

Pirelli Tyres Ltd. is a designer, manufacturer of tires for various types of vehicles, such as cars, light vehicles and motorcycles, buses, trucks, agricultural, and earth moving machinery.


Deal Context for Seller #
Overall 1 of 1
Sector: Automotive 1 of 1
Type: Divestiture 1 of 1
Country: United Kingdom 1 of 1
Year: 1997 1 of 1