Hella to take full control of Hella Pagid

Hella is to acquire the 50 per cent shares currently held by TMD Friction in the joint venture Hella Pagid.

The two companies today signed a letter of intent, which will make Hella the sole shareholder of Hella Pagid.

From 1st October 2024, Hella will begin distributing brake products under the Hella brand. TMD Friction will continue to manufacture and supply brake pads for Hella.

As part of today’s deal, TMD Friction is to regain sole control of the Pagid brand and plans to expand sales of brake products under this brand, from the same date next October.

By regaining full control over the Pagid brand, TMD Friction says it will allow Pagid to re-join Textar as a global original equipment premium brand in the TMD Friction portfolio.

Both companies agreed not to disclose details of the purchase price.