Bilia has today reached an agreement to acquire 50.1 per cent of the shares in Bil1Din Holding AS which conducts car dismantling operations via Bil1Din AS. Operations are conducted in central Norway and has today about 30 employees.
The business acquired reported a turnover of about SEK 55 M for 2021, with an operating margin of 1.7 per cent. The current three owners will continue to work in the business, which is gratifying and something we see as very positive. The pruchase price amounts to NOK 30 M for 50.1 per cent of the shares in the company. Bilia has committed to buy another 39.9 per cent of the shares in Bil1Din Holding AS until the year 2032, from the current owners.
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 Bil1Din establishes car dismantling operations in Norway. Car dismantling is an important part of our circular business model, which helps to reuse used car parts in our Service Business and in a sustainable business model. In the future, we will establish another new car dismantling operation located together with a new body and paint shop at Røyken, for the greater Oslo market in Norway."
Frode Hebnes, MD Bilia Norge AS, comments:
"By acquiring a majority stake in Bil1Din, Bilia will be the first player in Norway to clearly take a sustainability responsibility for the car throughout its entire life cycle, including the use of used parts. This together with our Service Business give us good synergies both in terms of profitability and not least from a sustainability perspective. The project of co-locating car dismantling with repair operations at Røyken will be a new and exciting concept for the Norwegian market."
Anders Greftegreff, MD Bil1Din Holding AS, comments:
"After three generations and almost 50 years in car dismantling, we are pleased that the car industry sees the financial and environmental opportunities that our business represents, as part of the circular economy. In recent years car dismantling in Norway has developed to be more professional, and several workshops and private individuals now chooses recycled. The partnership with Bilia provides a unique opportunity for faster expansion and better opportunity to influence the market in Norway. Together we will produce and deliver high quality and make sure that recycled car parts become a natural part of the car's life."
Gothenburg, May 5, 2022
Bilia AB (publ)
For information please contact:
Carl Fredrik Ewetz, Investor Relations, +46
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 car dismantling business in Norway (https://ml-eu.globenewswire.com/Resource/Download/5ff31d8d-ded3-4f45-bf20-813ce62bf99e)
