As prices soar and costs continue to squeeze, it's not just consumers who are feeling the pinch.
Giant companies have also had to change strategies, and some are even willing to give up their 'crown jewels' for survival.
Most recently, Goodyear Tire & Rubber Company agreed to sell the Dunlop brand to Sumitomo Rubber Industries (SRI) for a transaction value of $701 million.
This move is in line with Goodyear's efforts to reduce debt and focus on its core brands.
The sale includes brand rights in North America, Europe, and Oceania, in line with Goodyear's efforts to reduce debt and focus on its core brands.
Sumitomo, which already controls Dunlop's motorcycle tire division, now has full control.
The purchase package includes $526 million for brand rights, $105 million in transition fees, and $70 million for tire inventory.
Goodyear will retain temporary manufacturing rights for Dunlop tires in Europe until 2025, before eventually handing over full control to Sumitomo.
According to Goodyear CEO Mark Stewart, this transaction is part of an effort to strengthen the company's core business and deliver significant value to shareholders.
The deal is still awaiting regulatory approval and is expected to close in mid-2025.
Survival or smart strategy?
One thing is for sure, Dunlop is now rolling to a new destination.
