Hedin Mobility Group completes the acquisition of Laakkonen Group’s automotive business
Hedin Mobility Group and Laakkonen embark on a new chapter in the Finnish automotive retail industry.
MÖLNDAL, SWEDEN, 1 June 2022 –– Hedin Mobility Group AB (publ) today announces that it, through its subsidiary Hedin Automotive Oy, has completed the acquisition of all shares in Veljekset Laakkonen Oy and Bavaria Laakkonen Oy that was announced on 17 May 2022. The transaction comprises all automotive-related business activities within the renowned Laakkonen Group, including new and used cars sales, after sales and spare parts, body and paint services and automotive support functions.
Laakkonen is one of the largest car retailers in Finland, with revenues of MEUR 615 in 2021 and 855 employees in 21 dealerships across 15 cities. As a result of the transaction Hedin Mobility Group now enters the Finnish market for the first time, adding two new brands – Skoda and Mazda – to the portfolio.
“We look forward to starting the next chapter in Laakkonen’s long-standing, successful history and work together to build an automotive retail company fit for the future in Finland. Hedin Mobility Group is growing strongly in Europe, and we are delighted to welcome Laakkonen and its employees onboard this exciting journey”, said Anders Hedin, owner and CEO, Hedin Mobility Group.
Press contact
Magnus Matsson
PR & Communication Manager, Hedin Mobility Group
+46 31 790 00 82
press@hedinmobilitygroup.com
About Laakkonen Automotive Group
Laakkonen Group, established in 1960 in the city of Joensuu, is one of the largest automotive companies in Finland. The highly entrepreneurial Laakkonen family has grown the business from a single two brand dealership into a strong player in Finnish community and a significant automotive employer.
The two companies, Veljekset Laakkonen Oy and Bavaria Laakkonen Oy, sell yearly over 25,000 vehicles and execute more than 200,000 throughputs in aftersales. The CEO of the automotive business is Pietu Parikka. The company represents several car-brands: BMW, Ford, Mazda, MINI, Nissan, Opel, ŠKODA and Subaru.
The secret to Laakkonen’s success has remained the same over the years: strong focus to customer service, high respect towards the employees and constant development of professionalism.
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.