Iveco Group and Hedin Mobility Group sign agreement for the transfer of distribution and retail operations in the Nordics

Iveco Group N.V. and Hedin Mobility Group AB (publ), following up on the Letter of Intent signed in March 2023, announce the signing of a Share Purchase Agreement that sees Hedin Mobility Group acquiring Iveco Group's distribution and retail operations in Sweden, Norway, Finland, and Denmark. The transaction, subject to regulatory approval, is expected to be completed during the first half of 2024.

This partnership fortifies Hedin Mobility Group's position as a leading European mobility provider and expands IVECO's Nordic distribution network. It involves the transfer of marketing and distribution operations for IVECO light commercial vehicles, medium- and heavy-duty trucks, and minibuses sold through the retail network in the four Nordic countries, including spare parts. The agreement also includes the acquisition of the retail business at the IVECO-owned dealerships in Sweden (Gothenburg, Helsingborg and Malmö), Norway (Bærum), Finland (Espoo), and Denmark (Odense).

Iveco Group's commercial vehicle product range is currently sold and serviced in the Nordics through 35 retailers and more than 100 workshops.

Gerrit Marx, CEO, Iveco Group, commented: “Finalising this key partnership with Hedin Mobility Group immediately after the launch of our new full range is a sign to our commitment to growth and sustainability. This collaboration will enhance our presence in the Nordic market, leveraging Hedin's established network to deliver our innovative, efficient, and environmentally friendly vehicles to more customers.”

Anders Hedin, founder and CEO of Hedin Mobility Group, said: “This strategic partnership with Iveco Group significantly strengthens our value proposition and position as a leading European mobility provider, expanding our business both in distribution and retail. We share a determination to drive change and deliver products and services that benefit both end-users and society at large. Building on the renewed IVECO offering, we are excited to start our collaboration, enhance the brand’s Nordic market presence and create value for existing and new customers.”

Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a major force in its specific business: IVECO, a pioneering commercial vehicles brand that designs, manufactures, and markets heavy, medium, and light-duty trucks; FPT Industrial, a global leader in a vast array of advanced powertrain technologies in the agriculture, construction, marine, power generation, and commercial vehicles sectors; IVECO BUS and HEULIEZ, mass-transit and premium bus and coach brands; IDV, for highly specialised defence and civil protection equipment; ASTRA, a leader in large-scale heavy-duty quarry and construction vehicles; MAGIRUS, the industry-reputed firefighting vehicle and equipment manufacturer; and IVECO CAPITAL, the financing arm which supports them all. Iveco Group employs more than 35,000 people around the world and has 20 industrial sites and 29 R&D centres. Further information is available on the Company’s website www.ivecogroup.com

Press contacts

Hedin Mobility Group
Magnus Matsson
PR & Communication Manager
+46 31 790 00 82
press@hedinmobilitygroup.com

Iveco Group
Francesco Polsinelli, Tel: +39 335 1776091
Fabio Lepore, Tel: +39 335 7469007
E-mail: mediarelations@ivecogroup.com

About Hedin Mobility Group

Hedin Mobility Group is one of Europe's largest mobility providers, with more than 12,000 employees and operations in 14 countries. In 2022, net sales amounted to SEK 52.7 billion (approx. €4.8 billion) and the Group sold more than 180,000 vehicles.
 
Our operations consist of three main business areas:

• In Distribution, we are a significant importer/distributor of vehicles, spare parts, tires, rims and wheels as well as accessories on the European market. We are importer and/or distributor for BYD, Dodge and RAM, Ford and Ford F-150, Hongqi, INEOS Grenadier, MG as well as Renault, Dacia and Alpine. Within spare parts we are, among other things, an authorised partner for GM and Mopar in Europe as well as the exclusive global supplier of Saab Original parts.
• In Retail, we represent over 40 brands and provide a comprehensive offer – sales, financing, insurance, and aftermarket services – comprising new and used passenger cars, commercial vehicles, and trucks to both private and corporate customers. Sales take place both online and via a European dealer network comprising more than 330 own dealerships with a total of over 800 sales points under names such as Hedin Bil, Bavaria, Hedin Automotive, Motor-Car, Torpedo Gruppe, Stephen James, Delta Auto and Renova.
• In Mobility solutions, we address new user needs and sales models in the automotive industry by providing and developing innovative services. Through Carplus, Unifleet, MABI Mobility and Hedin Supercharge, users are offered various flexible and morden mobility solutions.

Hedin Mobility Group's operations also include Hedin IT, which provides the Group with high-end operations, support and digital development, as well as strategic investments in Pendragon PLC, Lasingoo Sverige, Casi (formlerly Imove), and Mercedes-Benz Financial Services Slovakia.
 
Read more on www.hedinmobilitygroup.com
 
Part of Hedin Group
Hedin Mobility Group is part of the Hedin Group together with the Tuve Bygg group 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