Bilia has today concluded an agreement to acquire City Däck Öresund AB, a company that conducts sales of tyres and rims and tyre related services as for example tyre fitting, tyre hotels, tyre changes, rim repair and wheel alignment. The company has an agency for a tyre brand in Sweden. The business is conducted at two facilities; in Malmö and in Vellinge. The date of possession is today on 10 June 2021.
The acquired business reported for the past two years an average turnover of about SEK 55 M, with an average operating margin of about 12 per cent. The number of employees is about 20. The operation's capital employed and agreed surplus values amount to SEK 55 M, which will increase the Bilia Group's capital employed and net debt.
Per Avander, Bilia's MD and CEO, comments:
"I'm happy that Bilia through the acquisition of City Däck Öresund AB can expand the strategically important tyre business to for Bilia a new and broader customer segment. In the future, Bilia will be able to take care of the tyre business for all car brands. Bilia wants to expand the business and has a new establishment plan for the future. Furthermore, City Däck Öresund complements our current business and our previous acquisition of En Bättre Däckaffär. City Däck Öresund will be part of a business area newly established for Bilia, that initially focuses on tyres, rims and wheels."
Hussen Hassoun, MD City Däck Öresund AB and seller, comments:
"I look forward to being a part of Bilia and together with Bilia continue to develop our tyre business both at our existing and future facilities."
Gothenburg, June 10, 2021
Bilia AB (publ)
For information please contact:
Per Avander, Managing Director and CEO, +46
Kristina Franzén, CFO, +46
Facts about the Bilia Group
Bilia is one of Europe's largest car dealers with a leading position within service and sales of cars and transport vehicles. Bilia has about 140 facilities in Sweden, Norway, Germany, Luxembourg and Belgium. Bilia sells cars of the brand Volvo, BMW, Toyota, Renault, Lexus, MINI, Dacia, Alpine and transport vehicles of the brand Renault, Toyota and Dacia.
Bilia offers new and used cars, e-commerce, spare parts and store sales, service and repair workshops, tyres and car glass and financing, insurance, car washes, fuel stations and car dismantling under the same roof, which gives a unique customer offer.
Bilia reported a turnover of about SEK 30 Bn in 2020 and had about 4,700 employees.
Attachment
- Bilia expands the important tyre business through acquisition of City Däck Öresund AB in southern Sweden (https://ml-eu.globenewswire.com/Resource/Download/9857abef-a3c8-44d1-b403-bab7dd50fc4a)
