Cooper Tires bought by Goodyear

AP Photo/Doug Murray

 

NASCAR’s exclusive tire supplier, Goodyear Tire & Rubber Company announced Monday that they will acquire their competitor, Cooper Tire, in a $2.5 Billon deal. 

Cooper Tires is the second largest tire company in the United States, with Goodyear being the largest. Both tire brands were hard hit by the COVID-19 pandemic, as there was a lower demand for replacement tires. 2021 looks to be a better year for these companies. 

The deal could expand the presence of the two, American-based companies, and is expected to close in the second half of 2021.