Gothenburg, Sweden, 2015-06-11 08:30 CEST (GLOBE NEWSWIRE) --
Bilia has reached an agreement to acquire Kaiser Bil AB which is a Lexus dealer. Lexus is a premium brand within the Toyota Group. The business is conducted at 4 facilities in Stockholm and Malmö and accounts for about 45 per cent of the total sale of Lexus in Sweden. The date of possession will be 1 October and the agreement is conditional on approval by the Swedish Competition Authority. The annual turnover 2014 for the Kaiser Group was SEK 260 M and the operating result was SEK 9 M. The business has about 45 employees. The capital employed plus agreed surplus values for the Kaiser Group amount to about SEK 100 M.
Bilia’s Managing Director Per Avander comments:
”We are very pleased to be able to expand with Lexus also in Sweden. Lexus is a strong brand within the Toyota Group, which has an attractive model programme and has so far this year increased their sale on the Swedish market by more than 50 per cent. We look forward to developing our operation together with Lexus.”
Chairman of the board of Kaiser Bil Crister Kaiser comments:
”Kaiser Bil will have an excellent owner in Bilia which can guarantee a continued positive development for both customers and employees.”
Director of Lexus Northern Europe Mika Elojärvi comments:
”Kaiser Bil has an exceptional expertise when it comes to customer care which makes it a perfect match for Lexus’ core values. At Lexus Sweden, we are grateful and appreciate our current partner Kaiser Bil and the team that works there. We are convinced that Bilia AB, with its combination of experience in car retail and its financial strength, will further strengthen our co-operation with Kaiser Bil to the advantage of our Lexus customers in Stockholm and Malmö.”
Gothenburg, 11 June 2015
Bilia AB (publ)
For further information, please contact Per Avander, Managing Director and CEO, or Gunnar Blomkvist, CFO, Bilia AB, tel. +46 31 709 55 00.
