Speedy Tyre and Exhaust, the fast fitment chain formerly owned by Bosal, has become part of the Bridgestone Firestone South Africa network.
Speedy Tyre and Exhaust, the fast fitment chain formerly owned by Bosal, has become part of Bridgestone Firestone South Africa. The deal, which was announced on Monday, extends the multinational tyre company’s network of retail dealers to 430.
The Bridgestone Firestone group now consists of Maxiprest, Autoquip, Quality Tyres, Supa Quick and Speedy. Speedy’s traditional “underbody” business of exhaust, shock absorber and towbar fitment will now be expanded to include the supply and fitment of Bridgestone and Firestone tyres.
“The substantial chain of Speedy outlets, currently numbering 80, is a significant addition to Bridgestone Firestone’s distribution channel,” said Gavin Kockott, managing director of Speedy Tyre and Exhaust.
“There is considerable room for growth and we are already appointing new franchisees. We are also working closely with Bosal to retain the historical strengths of the Speedy group, while positioning the new Speedy franchise as an aggressive tyre retailer,” Kockott added.
Speaking to CARtoday.com on Monday, Bridgestone Firestone South Africa spokesman Ivor Goetsch said the deal “entailed the company taking over the use of the Speedy brand name from Bosal. The deal and the proceeds of the deal will run for several years”.
Although Goetsch would not reveal the size of the deal, he said that the Speedy group would be increased by virtue of Bridgestone Firestone SA’s five-year growth strategy.
”The Speedy brand is strong in South Africa and should see an increase – and not rationalisation – in the number of its outlets. However, the speed and size of the expansion will depend on whether there is sufficient public demand in certain areas,” he said.
Goetsch said the deal came at a time where growth in the “underbody” market was constrained. ”Products such as exhausts, shock absorbers and tyres are far more durable than in the past. Therefore it makes much more sense for services that were previously offered by Speedy (under Bosal) to be combined with the tyre retailing branch of Bridgestone Firestone”.
”We intend to expand the Speedy brand under Bridestone Firestone SA by franchising and providing businesses opportunities to enter new markets,” he added.