Wetteri Plc Investor News 10 February 2025 at 12:45 PM
Wetteri Auto Oy, a subsidiary of the automotive growth company Wetteri Oyj, acquires Hedin Automotive's Kia and Mitsubishi business in Lahti. In the transaction, Wetteri will take over the new car sales and maintenance of Kia and Mitsubishi and the Tupalankatu businesses in Lahti. The business will be transferred to Wetteri latest 1 March 2025. As part of the transaction, Kia and Mitsubishi trained personnel will transfer to Wetteri as existing employees. The purchase price of the business acquisition, approximately EUR 150 thousand, corresponds to the book value of the acquired assets, new vehicles, spare parts, and the ongoing work orders, reduced by the book value of the assumed liabilities. No goodwill is paid in the transaction.
Wetteri has expanded its Kia and Mitsubishi businesses to several new locations. After this transaction, Wetteri will have Kia and Mitsubishi representations in Oulu, Joensuu, Kajaani, Lempäälä, Iisalmi, Pori, Rovaniemi, Kemi, Ylivieska, Kuopio and Lahti.
Wetteri's annual Kia and Mitsubishi sales volume will increase to approximately 1650 vehicles as a result of the transaction, and the total turnover will increase to approximately EUR 130 million, including new car sales, used car sales, spare parts and maintenance operations.
Aarne Simula, CEO, Wetteri Plc:
"We have systematically expanded our Kia and Mitsubishi businesses to several locations. After this transaction, Wetteri's market share of the Kia Mitsubishi sales in Finland is already approximately 20%. The acquisition strengthens Wetteri's position and opens up opportunities for us to negotiate other new brand representations in the Lahti area."
Helena Sauramo, CEO, Hedin Automotive Oy:
"Hedin Automotive's long-term network optimization plan continues with the sale of Lahti Kia and Mitsubishi operations. We are proud of our achievements as a Kia and Mitsubishi dealer in Lahti, and we want to thank our staff and customers for their trust. We believe that Wetteri will provide a strong platform for further development in the future and will continue to offer excellent service to Kia and Mitsubishi customers in the region."
More information
Aarne Simula, CEO and President, Wetteri Plc:
Tel. +358 400 689 613, aarne.simula@wetteri.fi
Wetteri Plc - an entrepreneur-driven growth company in the automotive sector
Wetteri Plc is an entrepreneur-driven growth company in the automotive sector. The company engages in the retail sales of passenger cars, commercial vehicles and heavy vehicles, and produces maintenance and repair shop services for vehicles, from passenger cars to heavy vehicles. Headquartered in Oulu, the company has 40 locations in Finland. The company employs nearly 800 people, of whom around 70% work in maintenance and repair services. Wetteri promotes digitalisation in the automotive sector and is an important player on the common journey towards emission-free motoring. More information: sijoittajat.wetteri.fi/en/
