Tire distributor buys MOMO

About 20% of vehicles in Italy are currently equipped with tires supplied by the Florentine distributor Univergomma, and now the family-owned company, which sold 5 million tires last year with a turnover of 350 million euros, is expanding its business and purchasing 100% of the shares of the Milan-based MOMO Srl, founded over 60 years ago by Giampiero Moretti, who became famous worldwide for his racing steering wheels, and later passed to the Cisneros family, Venezuelan entrepreneurs living in the United States. The deal was announced on March 20, and its amount is estimated at "several million euros".

"After ten years, we are bringing back home an Italian brand that has become a symbol of automotive culture, quality, and victories. We are very proud of this and are ready for a new adventure," said Univergomma, which belongs to the Pecca family.

The companies have been cooperating for over ten years, and in 2012, Univergomma began selling tires under the MOMO Tires brand under license, with around 1 million units sold in 60 countries worldwide last year.

MOMO's turnover in 2024 was 11 million euros. The headquarters will remain in Milan, and in addition to handmade steering wheels produced in Italy, the company also offers suits, gloves, and seats for motorsports, while helmets are produced by the MomoDesign structure, which has become a separate company.

"Joining the Univergomma group is an important event for our brand," said Massimo Cocca, CEO of MOMO. "This step will allow us to strengthen our positions in the market and offer our customers increasingly innovative and high-quality products. Together, we will continue to develop the history and values of MOMO in the automotive world".

Univergomma was founded in 1956, when Enzo Pecca opened a small tire retreading factory in Florence. In the 1990s, the company became involved in the distribution of Asian brand tires, after which it began cooperating with all major European manufacturers. Later, it was decided to exit the retreaded tire segment and focus on distribution, offices were opened throughout Italy, and the former Electrolux plant in Scandicci was converted into a fully automated warehouse with a capacity of up to 12,000 tires per day. Currently, the company employs several hundred people, and the number of customers in Italy exceeds 20,000.

Photo: Pneusnews.it