Hedin Mobility Group acquires five Citroën and DS dealerships in the Netherlands
Hedin Mobility Group bolsters its representation and expands its brand portfolio in the Dutch market.
MÖLNDAL, SWEDEN, 14 June 2022 –– Leading Dutch automotive retailer Stern (Hedin Automotive B.V.), a subsidiary of Hedin Mobility Group AB (publ), has reached an agreement with Wensink to acquire five Citroën and DS dealerships in the Northern part of Netherlands – including Groningen – which together employs approximately 30 people in car sales, workshop services and car parts.
Through the acquisition, Stern expands its brand portfolio in the Dutch market and adds 38 million euro per year in turnover. Furthermore, Stern will add Citroën to its existing dealerships in Assen, Hoogeveen and Emmen, where it will be combined with other Stellantis brands.
“We are pleased to have reached an agreement for this acquisition. The Northern branch is a valuable addition to our network, and we warmly welcome the Citroën and DS car brands to our portfolio. Wensink has created a good market position in the region and together with all employees we will continue to expand this”, said Henk van der Kwast, CEO of Hedin Automotive B.V.
“With the acquisition of Wensink's dealerships, we gain access to a market with great potential in Northern Netherlands and it is also strategically important to our Stellantis representation in the region”, said Anders Hedin, owner and CEO of Hedin Mobility Group.
The transaction is subject to approval from relevant competition authorities. Transition of business is expected to take place in early July 2022.
Press contact
Magnus Matsson
PR & Communication Manager, Hedin Mobility Group
+46 31 790 00 82
press@hedinmobilitygroup.com
About Stern
Stern (Hedin Automotive B.V.) is a large Dutch automotive retailer and has been part of Hedin Mobility Group since 2022. Stern represents several leading brands such as Mercedes-Benz, Renault, Nissan, Ford, Volvo, Peugeot, Land Rover, Kia and Opel in the Netherlands. In addition, Stern offers services such as leasing, rental, insurance, financing, extended warranty, (brand-recognized) damage repair and commercial vehicle equipment. Stern's network has 75 branches in the country with approximately 1,700 employees (FTEs) in the car-dense areas of the Netherlands.
About Hedin Mobility Group
Hedin Mobility Group is one of Europe's largest privately owned car dealers. The Group employs more than 5,000 people and operates over 200 dealerships in seven countries. Net sales in 2021 was SEK 28.2 billion and the Group sold more than 125,000 vehicles (of which approx. 21,500 are attributable to operations transferred from Hedin Group AB in October 2021).
The Group's portfolio includes approximately 35 car brands, and the company provides full service for both private and corporate customers. The portfolio also includes distribution of Ford and MG in Sweden, Renault, Dacia and Alpine in Sweden and Denmark, and Dodge and RAM in Europe. In addition, the Group's operations include wholesale operations of tires and spare parts, the car rental company Mabi Mobility AB, the private leasing company Car to Go Sweden AB, the corporate leasing company Unifleet AB and co-ownership in Pendragon PLC and iMove AS.
Hedin Mobility Group is part of the Hedin Group together with Tuve Bygg AB and I.A. Hedin Fastighet AB. Hedin Group is also a partner in Consensus Asset Management and Ripam Invest AB, which owns Marstrands Kurhotell, Kurbadhus and Societetshus.