Hedin Bil (Hedin Automotive) has entered agreement to acquire another 5 outlets in Belgium.
I.A. Hedin Bil has entered agreement with the Belgian company Andries NV to acquire its subsidiaries Eddy Joosen NV, Garage A. Swinnen BVBA, Garage Euromotors NV and Garage Vriesdonk NV, including four full service outlets and one used car outlet for Mercedes-Benz passenger cars around Antwerp. In 2017, sales were in the region of 100 million Euros and the business had 89 employees.
The transaction is conditional upon certain terms and the approval of the Belgian Competition Authorities. Closure is expected in Q2 / Q3 2018.
”Last Sunday we closed the acquisition of seven Mercedez-Benz outlets in and around Ghent and now we have agreed to acquire five outlets in Antwerp. We began our business in Sweden in 1985 and have grown over time, and since last autumn we expanded into Norway through acquisition. This was made possible through the competence of our co-workers and I look forward to offering customers in Belgium our service and full range solutions” says Group CEO Anders Hedin in a comment.
When the transaction is closed, Hedin Automotive will have a total of 12 outlets in the Flemish part of Belgium. Henrik Lessel is the CEO of the Belgian business.