The Hoosier Racing Tire Corporation has been acquired by Continental Tire. Continental announced the acquisition in a press release Tuesday.
Hoosier Racing Tire is based in Lakeville and employs nearly 500 people. According to the press release, the two organizations have already been working together on various projects over the past several years. Continental officials say Hoosier Racing Tire is well-positioned to continue its growth and that the current management will keep operating the racing tire business. They say the deal will create “significant opportunities” for employees of both organizations.
Terms of the deal have not been released.
