Continental has entered exclusive negotiations with ASC Investment regarding the sale of its French retail operations, ContiTrade France. The intended transaction includes more than 130 company-owned BestDrive outlets, two retreading facilities, as well as the administrative functions supporting the tyre and vehicle maintenance business and totaling approx. 1,200 employees.
Continental and ASC Negotiations
All service outlets to be sold would remain part of the Continental BestDrive France network under a franchise contract. Staff responsible for the franchise organisation and the FleetPartner organisation will be integrated into the Continental marketing and sales organisation in France.
Both parties agreed not to disclose any further details. The intended transaction will be subject to consultation with the Comité Social et Économique (CSE) and approval by the supervisory board of Continental AG, followed by the signing of a sale and purchase agreement.
BestDrive France aims to complete the transformation of its business model through this transaction, moving from a hybrid distribution structure to a fully franchised network in France. After completing the transaction, Continental will serve its individual and fleet customers in France through the BestDrive service outlets network operated by franchisees, and BestDrive will remain fully committed to supporting its franchises.
ASC aims to operate the service outlets as an independent and agile activity, fully focusing on providing a wide range of services to its existing and new clients via an extended product offering. Together with the current management team, ASC is committed to leveraging the existing footprint of ContiTrade France and its employees’ skillsets.
Continental aims to optimise and expand its franchise network throughout France and access to a competitive BestDrive Private Brand product range, a future-ready digital services portfolio and the nationwide FleetPartner are key elements of that franchise proposition, with BestDrive serving more than 200 outlets throughout France.
