BILIA ACQUIRES THE HANS PERSSON GROUP – ONE OF SWEDEN’S LARGEST VOLVO, FORD AND RENAULT
DEALERS
Bilia Personbilar AB and Hans Persson Bil AB have signed a letter of intent which will result in Bilia acquiring all the subsidiaries of Hans Persson Bil AB which run business operations. The Hans Persson Group is a well-known, profitable car dealership with 48 years in the business. It represents Volvo, Ford and Renault. The Ford operations are run in Västerås, while the operations relating to Volvo and Renault are based in the following towns: Västerås, Köping, Sala, Hallstahammar, Arboga, Fagersta, Avesta and Hedemora. Average turnover in 2005 and 2004 totalled around SEK 1.3 billion and the operating margin was approximately 2.4 per cent. Sales in 2006 totalled 2,700 new cars and 3,600 used cars. The work force totals 320 employees. The agreement is expected to be finalised in February/March 2007. The acquisition is conditional upon the approval of the Swedish competition authorities.
Åke Persson, CEO of the Hans Persson Group, and Jan Pettersson, Bilia’s CEO, have issued the following joint statement.
“Bilia’s acquisition of the Hans Persson Group’s car operations is good for everyone involved. Hans Persson’s customers can expect the same professional care at the current facilities. The cost of logistics, marketing and common functions can be istributed over larger volumes, thereby benefiting both Hans Persson’s and Bilia’s customers. Volvo, Ford and Renault will enjoy the security of unbroken continuity when it comes to the sale and service of their products. As far as Bilia is concerned, this quisition is entirely in line with the group’s orientation and, when it comes to the family company of Hans Persson, the transfer of car operations can take place at an appropriate time. As far as the employees of the Hans Persson Group are concerned, this deal will see an established, well-known car company becoming the new owner.”
Göteborg, 15 January 2007
Bilia AB (publ)
For further information, please contact Bilia’s managing director, Jan Pettersson, or its CFO, Gunnar Blomkvist, Bilia AB, tel +46 31 709 55 00.
