International tyre manufacturer Michelin has purchased a quarter-stake in two New Zealand companies.
It has bought into Tyreline Distributors Limited and Beau Ideal Limited which trades as Beaurepaires.
Tyreline Distributors is a family-owned importer and wholesaler headquartered in Hamilton with warehouses in Auckland and Christchurch.
It was founded by Grant and Barbara Rushbrooke in 1989 as an agricultural tyre distributor.
In the early days of their business, the Rushbrookes operated out of their farm’s hay barn in Te Awamutu, and made deliveries to customers in their ute.
The family will retain a 75% ownership in the Tyreline and Beau Ideal businesses.
Tyreline first partnered with Michelin in 1998 when it became the New Zealand distributor for its earthmover and industrial tyres.
It then went on to be a Michelin distributor for car, truck and bus products and in 2011 became the first factory in Oceania to receive accreditation to produce Michelin branded retreads.
Michelin, headquartered in France, is one of the world’s most well-known brands and is on the 2017 Fortune 500 list.
Grant Rushbrooke says he is “thrilled” to welcome Michelin as a major shareholder.
“It’s exciting to start 2018 off with this news.
“It demonstrates Michelin’s commitment to the New Zealand market and their confidence in both Tyreline and Beaurepaires as sustainable partners.
“Michelin are global leaders and innovators in their field. They invest more than NZ$1 billion every year into research and development,” he says.
Michelin Asia Pacific director Hock Sen Chan says the long-standing relationship between the companies encouraged Michelin’s investment.
“We share the same values of respect of customers and innovation, and we will work together to explore new avenues of business and progress for the automotive market in New Zealand
“Our investment is to reinforce our commitment to Tyreline and to the New Zealand market, promoting daily safer and better mobility for all the New Zealand consumers,” Chan says.
Tyreline also partnered with multinational energy company Shell in 2017 as a New Zealand distributor for its lubricants.
