Yokohama Rubber agreed to acquire Goodyear's Off-The-Road business, which makes tires for mining and construction vehicles, for $905 million in cash. The unit had about 500 employees and $678 million in 2023 sales. The deal closed in February 2025 after antitrust approvals. The deal Yokohama Rubber signed on July 22, 2024 and agreed to pay $905 million in cash, subject to price adjustments. It bought the business assets plus two subsidiaries: Goodyear Earthmover in Australia and Nippon Giant Tire in Japan. The deal closed on February 3, 2025 after competition approvals. According to Yokohama's filing, the unit had 2023 sales of $674 million and adjusted EBITDA of $130 million, a margin of about 19%, after $607 million and $698 million in sales in 2021 and 2022. Goodyear put sales at about $678 million and staff at about 500. By our math, the price is about 7 times EBITDA. What changes hands The business makes tires for mines, construction sites and ports, up to the giant 63-inch tires on mining haul trucks. Yokohama also gets an OTR retreading plant in North Bay, Ontario. Goodyear keeps its military OTR tires and will supply Yokohama from some of its plants, including Topeka, Kansas, for up to five years. Why both sides did it For Goodyear, the sale is part of its Goodyear Forward turnaround plan, which also sold the Dunlop brand to Sumitomo Rubber, to raise cash and cut debt. For Yokohama, it fills a gap: after buying Alliance Tire Group (2016) and Trelleborg Wheel Systems (2023), it was strong in farm and industrial tires but weak in mining and construction. It now says it has a full lineup in every off-highway category, and the unit has been in its results since early 2025.
