Hedin Bil has entered into an agreement to acquire a further three BMW dealerships in Norway
I.A. Hedin Bil has through its subsidiary, Bavaria Norway, entered into an agreement with Brages Holding for the purchase of three additional BMW and the MINI dealerships in Norway.
Mölndal, Friday the 7th of June 2019
- The acquisition of Brages is fully in line with our strategy and ambition for growth. Our tremendous respect for Brages achievements, customer-centric culture and sound values make for a great match with Bavaria. I am convinced that customers will benefit from the consolidation of two strong partners, and we will do our outmost to continue to deliver great customer experience in the future, says Helge Ellingsen, Managing Director of Bavaria Norway.
Brages Group has since the beginning I 2002, achieved a strong position in the region of Møre and Romsdal, and 49 employees retail 1350 new / used BMW and MINI cars annually.
- Our BMW operations have grown substantially in Scandinavia in recent years. Only last year we acquired three dealerships in northern Sweden. We are convinced our success and strong alliance with BMW will continue, and are constantly looking for opportunities grow even further, says Stig Sæveland, CEO Hedin Automotive.
The transaction is conditional upon approval from the Norwegian competition authorities.
I.A. Hedin Bil AB
(publ)
For further information:
VD: Anders Hedin, anders.hedin@hedinbil.se
Media: press@hedinbil.se
Media please contact: press@hedinbil.se
The information in this press release is information which I.A. Hedin Bil AB is required to disclose under the EU Market Abuse Regulation (EU) No 596/2014. The information was provided by the contact person for publication on the 7th of June 2019, 12:30 CET. I.A. Hedin BIl Aktiebolag (publ) Box 2114, 431 02 Mölndal.
I.A. Hedin Bil is one of the largest privately-owned automotive retailers in the Nordics, with 32 brands in the portfolio, offering full service for private and corporate customers. Financing, service and insurance are some of the components of the total offer. Hedin Bil is represented in more than 115 locations in Sweden, Norway and Belgium. Turnover in 2018 amounted to 21 bn SEK with 2450 employees. www.hedinbil.se
® I.A. Hedin Bil is a registered trademark owned by the Anders Hedin Invest Group (91 %) and Ingemar Hedin (9 %).
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