Bilia has today reached an agreement to acquire Kokstad Autosenter AS, who conducts sale of used cars and a brand-independent service workshop. Operations are conducted in two facilities in Bergen, Norway.
The business acquired reported for 2021 a turnover of about SEK 110 M with an operating margin of 3 per cent. Number of employees is 12 and the current three owners will continue to work in the business. The operation's capital employed plus agreed surplus values amount to NOK 16 M, with the possibility of additional purchase price of a maximum of NOK 12 M in 2027.
The agreement is subject to approval by the Norwegian competition authority. Access is expected to take place no later than 1 June 2022.
Per Avander, Bilia's MD and CEO, comments:
"I'm happy that Bilia through Kokstad Autosenter AS gets access to a well-run business for the sale of used cars and a brand-independent service workshop in Bergen. Bergen is Norway's second largest city and strategically important for Bilia's future operations."
Frode Hebnes, MD Bilia Norge AS, comments:
"We are very pleased with the acquisition and future collaboration with Kokstad Autosenter AS, which means that we establish our fourth Bilia Outlet facility in Norway. Through the acquisition, we continue to get strategic expansion of sales of used cars and the Service Business. The business is very well managed and fits in well with Bilia."
Bjan Ullman, MD Kokstad Autosenter AS, comments:
"We were initially not interested in selling the business, but when Bilia contacted us we became convinced that this is the next step for us. Bilia shares our philosophy and culture regarding good customer service and the desire to create a really good customer experience, which we see as a confirmation of the work we put in at Kokstad Autosenter AS. With Bilia behind us, we look forward to continuing the work in the future."
Gothenburg, April 27, 2022
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, transport vehicles and trucks. Bilia has about 150 facilities in Sweden, Norway, Luxembourg and Belgium. Bilia sells cars of the brand Volvo, BMW, Toyota,
Mercedes-Benz, Renault, Lexus, MINI, Porsche, Nissan, Dacia, Smart and Alpine and transport vehicles of the brand Renault, Toyota, Mercedes-Benz, Nissan and Dacia and trucks of the brand Mercedes-Benz.
Bilia has today a fully expanded business with sales of new cars, e-commerce, spare parts and store sales, service and repair workshops, tyres and car glass and financing, insurance, car washes, fuel stations and auto salvage under the same roof, which gives a unique offer.
Bilia reported a turnover of about SEK 35 bn in 2021 and had about 5,300 employees.
Attachment
- Bilia acquires a Norwegian used car dealer with brand-independent service workshop (https://ml-eu.globenewswire.com/Resource/Download/86b67fd9-85eb-4dd0-8542-b012b30b555f)
