Magna Tyres acquires Forrez and further expands its presence in Europe
The Magna Tyres Group has announced the acquisition of the Belgian tire and mobility services provider Forrez. With the acquisition, the Dutch company continues its international growth trajectory and strengthens its market position in Europe. For Magna, it is already the sixth strategic acquisition within a few years and another step on the path to becoming a global leader in tire solutions.
Forrez traces back more than 60 years of company history and is one of the established tire providers in Belgium. The family-owned company operates 17 of its own tire centers, is active in wholesale for passenger car, truck, agricultural and industrial tires, and also has its own rim production. Through the integration, Magna Tyres significantly expands its distribution and service network and simultaneously gains extensive regional market knowledge.
According to Magna Tyres, the combination of the two companies creates significant operational and commercial synergies. While Magna brings its international procurement, the global distribution network and a broad product portfolio, Forrez complements these strengths with long-standing technical expertise, established customer relationships and a strong presence in Belgium and neighboring countries. The aim is to support customers more comprehensively in the future with tire solutions, technical support and services.
With the merger, the group expects a joint annual revenue of around 275 million euros for 2026. At the same time, Magna Tyres continues to pursue the ambitious goal of building a global tire solutions provider with a revenue of 650 million euros by 2029. This growth is to be achieved through both organic expansion and further targeted acquisitions.
Michael de Ruijter, President of the Magna Tyres Group, described Forrez as an ideal partner whose technical competence, customer orientation and corporate values fit excellently with Magna's long-term strategy. Together, they want to further expand the market position in Europe while also delivering even better service to customers worldwide.
The acquisition underscores the ongoing consolidation trend in the international tire industry. Manufacturers and trading companies are increasingly investing in strategic acquisitions to expand their market presence, strengthen regional service capabilities and achieve economies of scale in purchasing, logistics and distribution.