Apollo Tyres Acquires Germany’s Reifencom

India’s Apollo Tyres Ltd. has acquired Germany tire distributor Reifencom GmbH for €46 million ($49 million).

Reifencom operates 37 retail facilities in Germany and conducts online sales in five other European countries.

Gurgaon-based Apollo, which markets tires under the Apollo and Vredestein brands, generated $2.1 billion in revenue in the fiscal year ended March 31. The company operates manufacturing plants in India, the Netherlands, South Africa and Zimbabwe and is erecting a €475 million factory in Hungary.

Two years ago Apollo mounted an unsuccessful bid to buy Cooper Tire & Rubber Co. for $2.5 billion. The deal faltered over labor issues in the U.S. and control of a Cooper tiremaking venture in Shandong, China, with Chengshan Group.