March 1, 2023

Hedin Mobility Group expands with Jaguar and Land Rover; acquires Förenade Bil JL i Malmö

Press release

Hedin Bil consolidates its position as Sweden's leading representative of the two exclusive British car brands.

MÖLNDAL, SWEDEN, March 1, 2023 –– Hedin British Car AB, a subsidiary of Hedin Mobility Group and part of the Group's Swedish dealer network Hedin Bil, has entered into an agreement to acquire all shares in Förenade Bil JL i Malmö AB. Förenade Bil JL i Malmö is exclusive dealer of Jaguar and Land Rover, with an authorised workshop, in the southern Swedish county Skåne.

The acquisition comprises all of the company's activities in car sales, workshop services and spare parts and accessories. The business is located in Malmö at a full-service dealership totalling approximately 2,500 square meters divided into exclusive showrooms for Jaguar and Land Rover respectively, a state-of-the-art workshop and spare parts warehouse with accessories shop.

The dealership opened in 2017 and employs 12 people. During 2022, Förenade Bil JL i Malmö sold just under 200 new and used Jaguar and Land Rover with net sales of approximately MSEK 100.

Hedin Bil is already Sweden's largest retailer of Jaguar and Land Rover, a position that is further strengthened by the acquisition of Förenade Bil JL i Malmö. When the acquisition is completed, Hedin Bil will represent the two British brands at five dealerships and locations: Malmö, Halmstad, Gothenburg, Linköping and Örebro.

Rikard Alm, CEO of Hedin British Car said:
"We are very happy to welcome this well-established dealership and its employees to us at Hedin British Car and Hedin Bil. Through this acquisition we continue to build on our solid partnership with Jaguar and Land Rover in Sweden. These two exclusive car brands have a combined strong model program where all models will be electrified in the near future, and moving forward we see that they will continue to be competent challengers to the major manufacturers in the luxury car segment."

Joakim Söderström, CEO and co-owner of Förenade Bil Gruppen said:
"We are proud of the journey we have made with Jaguar and Land Rover in Skåne since we were entrusted to represent these great brands in 2016. Our team has done a fantastic job and we are convinced that Hedin Mobility Group can take the brands to the next level. As the industry evolves, we are also convinced that this is the best for the business and for the customers in the long term. Förenade Bil Gruppen will continue to focus on the brands BMW, BMW Alpina, MINI, KIA and Lexus in southwestern Sweden."

The acquisition of Förenade Bil JL i Malmö is expected to be completed in the second quarter of 2023.

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