Yokohama Rubber Co. said it will buy KKR & Co.’s Alliance Tire Group for $1.2 billion to enter the market for agricultural and forest machinery.

The Japanese maker of passenger-car tires will purchase all shares from KKR and other parties and expects to complete the acquisition July 1, according to a statement. The deal is valued at about 2.2 times Alliance Tire’s annual sales and more than 12 times its operating profit for the 2015 fiscal year.

Source:
courtesy of BLOOMBERG

by Craig Trudell

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