**Hoosier Tire Ownership: Everything You Need to Know**
If you’re a racing enthusiast or a motorsport fan, chances are you’ve come across the name Hoosier Tire. Known for their high-performance racing tires, Hoosier Tire has become a leading brand in the racing industry. But have you ever wondered who actually owns this iconic tire company? In this article, we’ll dive into the details of Hoosier Tire’s ownership and shed light on the company’s background and current ownership structure.
Hoosier Tire is owned by the Product Manufacturing Group (PMG), a private investment company based in Indiana. PMG specializes in acquiring and managing manufacturing businesses across a wide range of industries. Their acquisition of Hoosier Tire in 2016 marked their entry into the motorsport sector.
**The History of Hoosier Tire**
Before we explore the current ownership of Hoosier Tire, let’s take a quick trip down memory lane and delve into the company’s origins. Hoosier Tire was founded in 1957 by Robert “Bob” Newton and Joyce Newton. It all started with Bob’s passion for racing, which led him to experiment with different tire designs and compounds to improve performance on the track.
What began as a small operation in South Bend, Indiana, quickly grew into a thriving business. Hoosier Tire gained recognition for its innovative tire designs and exceptional performance in various racing disciplines. Over the years, the company expanded its product range and established itself as a leader in racing tire manufacturing.
**PMG’s Acquisition of Hoosier Tire**
In 2016, PMG acquired Hoosier Tire, bringing the company under its ownership. PMG recognized the significance and potential of Hoosier Tire in the motorsport industry and saw an opportunity to drive further growth and development.
As a private investment company, PMG focuses on acquiring manufacturing businesses with strong growth prospects. Their portfolio includes a diverse range of companies across different sectors, and the addition of Hoosier Tire further expands their reach into the motorsport and racing industry.
**Hoosier Tire’s Current Ownership Structure**
Under PMG’s ownership, Hoosier Tire operates as a subsidiary of the Product Manufacturing Group. This means that PMG has a controlling interest in the company and plays a crucial role in shaping its strategic direction and overall operations.
While the specific details of PMG’s ownership percentage in Hoosier Tire are not publicly disclosed, it is safe to assume that PMG has a significant stake in the company. This allows PMG to actively participate in decision-making processes and contribute to the company’s growth and success.
**Frequently Asked Questions**
**Q: Is Hoosier Tire still based in Indiana?**
Yes, Hoosier Tire’s headquarters and manufacturing facilities are located in Lakeville, Indiana. The company takes pride in its Indiana roots and continues to operate from its original home state.
**Q: Does Hoosier Tire only manufacture racing tires?**
While Hoosier Tire is best known for its high-performance racing tires, the company also produces tires for other applications. For example, they offer tires for agricultural equipment, passenger vehicles, and trucks.
**Q: Are Hoosier tires only available in the United States?**
No, Hoosier Tire has a global presence and distributes its products internationally. Racing enthusiasts and competitors worldwide can benefit from the performance and quality of Hoosier tires.
**Final Thoughts**
As a motorsport enthusiast, understanding the ownership landscape of prominent racing companies like Hoosier Tire can provide valuable insights into their operations and strategic direction. While Hoosier Tire’s ownership primarily rests with the Product Manufacturing Group, it’s important to acknowledge the decades of dedication and passion that the founders, Bob and Joyce Newton, invested in building the company.
Under PMG’s ownership, Hoosier Tire continues to innovate and deliver exceptional performance on and off the track. With its commitment to quality and continuous improvement, Hoosier Tire remains a respected name in the racing community, helping drivers achieve their best on every lap. So, the next time you see a race car zooming by on a track, there’s a good chance it’s powered by the performance of Hoosier tires.