Goodyear sold most of its Goodyear Chemical business to an affiliate of Gemspring Capital Management for $650 million, subject to adjustments. The transaction took effect on Oct. 31, 2025.
“With the sale of our Chemical business, we have completed all of the planned asset sales included in our Goodyear Forward transformation program,” said Mark Stewart, Goodyear’s CEO and president. “Additionally, we surpassed initial expectations, with total gross proceeds from the divestitures of approximately $2.2 billion. As a result, we have a more focused, streamlined portfolio that will allow us to grow our core products and services and achieve our vision of being No. 1 in tires and service.”
At closing, Goodyear received about $580 million in cash. This amount reflected working-capital adjustments, including adjustments for intercompany receivables.
Goodyear Chemical Business Facilities included
The sale included Goodyear Chemical facilities in Houston and Beaumont, Texas, and a related research office in Akron, Ohio. Goodyear kept its Chemical facilities in Niagara Falls, New York, and Bayport, Texas. The company also retained rights to the products produced at these locations.
Use of Proceeds
Goodyear said it plans to use proceeds from the transaction to reduce debt and fund initiatives under the Goodyear Forward transformation plan.
Lazard served as lead financial adviser. Deutsche Bank acted as financial adviser, and Squire Patton Boggs served as legal adviser to Goodyear.
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