Hedin Mobility Group and Salvador Caetano Group complete the acquisition of Renault Nordic AB
Hedin Mobility Group expands in the area of import and distribution together with Renault and Salvador Caetano Group as Hedin Caetano becomes importer and distributer of the Renault, Dacia and Alpine brands in Sweden and Denmark.
MÖLNDAL, 2 May 2022 –– Hedin Mobility Group AB (publ) today announces that Hedin Caetano AB – a 50/50 joint venture company between Hedin Mobility Group and Salvador Caetano Group – has completed the acquisition of all shares in Renault Nordic AB from Renault s.a.s. that was announced on 9 February 2022.
The business of import and distribution of the Renault, Dacia and Alpine brands in Sweden and Denmark is transferred to Hedin Caetano as of today, 2 May 2022.
With customer satisfaction and brand dedication in focus, Hedin Caetano will grow the Renault, Dacia and Alpine brands to drive sales and strengthen the brands’ market position in Sweden and Denmark. As part of this, a new efficient and customer-focused retail and distribution platform will be implemented.
“Salvador Caetano Group and Hedin Group are long-term partners of Renault Group and were chosen as they complement each other. With this agreement and our wide range of electrified vehicles, I feel confident that we will be able to achieve our Renaulution plan objectives for Sweden and Denmark”, said Philippe Buros, Senior Vice-President, Sales & Marketing and Services of Renault Group.
“We are very pleased to have finalized this acquisition and we look forward to developing the Renault business together with such a strong partner as Salvador Caetano. This acquisition means that Hedin Mobility Group for the first time enters the Danish market as a distributor, which we also look forward to“, said Anders Hedin, owner and CEO, Hedin Mobility Group.
“This agreement provides Salvador Caetano the opportunity to pursue its expansion plans in Europe, by entering the Nordic region. The partnership with Hedin Mobility Group and the strengthening of the long-standing cooperation with the Renault Group are important pillars to implement our strategy”, said Miguel Ramos, CEO of Salvador Caetano Group.
In 2021, Renault Nordic AB registered 17,499 passenger vehicles, and 8,936 commercial vehicles in both markets combined.
Press contact
Magnus Matsson
PR & Communication Manager, Hedin Mobility Group
+46 31 790 00 82
press@hedinmobilitygroup.com
About Salvador Caetano Group
Portuguese based group, 6,750 employees, present in 41 countries and 3 continents (Europe, Africa and Latin America), representing 25 brands in Importer contracts and 36 brands in Retail, investments in Industry, Automotive Distribution, Mobility Services & Others.
About Hedin Mobility Group
Hedin Mobility Group is one of Europe's largest privately owned car dealers. The business employs more than 5,000 people and is represented in more than 200 locations in 12 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 over 30 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, Dodge and RAM in Europe, 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.
www.hedingroup.com