Pirelli sells Swedish subsidiary

Pirelli and CTS, an independent provider of tire maintenance services in Northern Europe, have signed a strategic partnership agreement that will enable both companies to expand their presence in the region. Under the terms of the agreement, Pirelli will also sell to CTS the trading company Däckia AB, whose network consists of 69 direct sales outlets and 42 affiliated centers throughout Sweden. 

As part of the deal, Pirelli and Däckia have entered into a cooperation agreement until 2030, with the Italian manufacturer acting as the primary tire supplier. The transaction is expected to be completed by July 2025, subject to regulatory approvals.

“The strategic partnership with Pirelli reflects our commitment to sustainability, quality, and innovation,” said David Bowman, CEO of CTS, adding that the acquisition of Däckia will create a “comprehensive offering that combines tire service, distribution, wheel alignment, and tire retreading, all on local premises and with sustainability as the foundation”.

Livio Magoni, Senior Vice President of Pirelli in Europe, added that Scandinavia is a strategic market, partly due to the high number of electric vehicles in the region, where the company is a leader in this segment.    

In Sweden, Pirelli has also recently invested in expanding its Sottozero Center testing facility, where the company's research and development team tests products on snow and ice. “It is thanks to research conducted in Sweden that Pirelli has recently launched the Ice Friction [on the Russian market — Pirelli Ice Zero FR 3] — a high-performance winter tire specifically designed for the Northern European market and new-generation vehicles”, notes Pirelli.