Continental Tires, a manufacturer of lots of street and racing tires, has purchased Hoosier, a manufacturer of some street and mostly racing tires. The good news for both companies is that the customer base doesn't seem to cross over, so the brands won't steal sales from one another.
If you're running Continentals on your race car, then it's probably for road racing circuits. If you have a racing machine wearing Hoosiers, there's a good chance that you're taking it to the dragstrip.
The news of the acquisition comes from Motor1, which reports that Continental is keeping the Hoosier brand intact. That seems like a solid strategy and it allows Continental to expand its motorsports reach. Currently, the Continental name can be found as a prime sponsor of the IMSA SportsCar Challenge. It also supplies rolling stock to teams competing in the WeatherTech IMSA Championship.
The Continental board members have positive words for the Lakeville, Indiana-based tire manufacturer. Hoosier has been in business since 1957, and its current management team isn't going anywhere. In fact, the backing of Continental should help Hoosier continue to grow while providing greater stability.
In other words: Hoosier's got that Conti money now.