Dutch off road tyre company Magna Tyres has acquired Australian tyre and battery distributor Telescope Tyres Group.
Established in 1994, Telescope was owned by Brian Hogan and the Hogan family trusts, and operates from four facilities in New South Wales – two in Parkes, along with branches in Gunnedah, Cowra and Dubbo, covering all types of tyres, from cars to mining trucks, offering a wide range of brands, including BKT, Michelin and Bridgestone.
The Telescope Tyres network
Telescope Tyres will continue to trade under its own name, under current managing director Nathan Johnston, while benefiting from the support and global resources of Magna Tyres.
The acquisition is expected to close in January. Going forward, the company says that it will explore further opportunities to strengthen its network across Australia and New Zealand.
Magna chief executive Michael de Ruijter said: “Australia is a vital market in our international growth strategy, and Telescope Tyres is a highly respected name with a strong local reputation. Its customer focus and service quality align perfectly with Magna’s values. Together, we will build a stronger, more capable business that can serve customers with even greater efficiency and reliability.”
Nathan Johnston said: “Joining Magna Tyres marks an exciting new chapter for our company, our people and our customers. We are proud of our local heritage and long standing relationships, and with Magna’s global expertise and resources, we are well positioned to deliver even greater value while staying true to who we are.”
Aldo Gismondi, the managing director of Magna Tyres Australia, added: "The Telescope acquisition strategically positions Magna Australia on the East coast, following the acquisition of Fennell Tyres on the West coast in 2021 and brings our annual revenues to A$75 to A$80 million ($50-54 million)."
Magna Tyres is based in Waalwijk- between Rotterdam and Tilburg in the Netherlands, it has been designing and manufacturing off road tyres since 2006 and produces them in both Thailand and the Netherlands with tyres for cranes, mining and construction equipment, port handling, and recycling/waste disposal machines. It operates across 130 countries and has its own operations in Germany, Poland, the Czech Republic, Serbia, Croatia, India, Hong Kong, China, Singapore, the UAE, South Africa, Canada and the USA. In Australia, it already owns Fennell Tyres International in Kewdale, near Perth airport in Western Australia, having acquired the family/employee owned company in 2021.
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