The owner of the Stoloto lottery brand bought from the Japanese manufacturer Bridgestone a plant in Ulyanovsk and a tire distributor on the Russian market. The new owner of Bridgestone’s business in Russia will not be able to use the company’s trademarks or branding.
S8 Capital has closed a deal to acquire a tire manufacturing plant in Ulyanovsk, Bridgestone. S8 Capital also became the owner of the Bridgestone tire distributor in the Russian market, Kommersant writes citing the buyer’s statement.
The Bridgestone plant in Ulyanovsk was opened in 2016. The company produces up to 2.4 million car tires per year. The Japanese company invested 12.5 billion rubles in Russian production.
In March 2022, Bridgestone stopped producing and importing its products to Russia. In October of the same year, the company began looking for options to sell its Russian business.
S8 Capital, owner of the Stoloto lottery brand, previously acquired the Russian business of auto tire makers Cordiant and Continental.
Author:
Kirill Bilyk
Source: RB
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