2:51 pm, November 24, 2022
Mercedes-Benz Retail Group has agreed a deal to sell four of its South London dealerships to the ambitious Hedin Mobility Group.
The deal, likely to be worth several million pounds, sees Hedin assume responsibility for operations at sites in Brooklands, Dartford, Croydon and West Bromley.
The dealerships become the first UK showrooms to be fully owned by Hedin Mobility and employ around 360 people between them.
Earlier this year, Mercedes-Benz Retail Group announced plans to cut ten per cent of its dealerships as part of its switch to an agency sales model.
Anders Hedin, founder and CEO of Hedin Mobility Group said: ‘Through this acquisition, we take our first step into Europe’s second largest car market and establish a strong foothold for further growth.
‘We are pleased to expand with our core brand Mercedes-Benz through the acquisition of these four dealerships, comprising the South London Market Area, and we look forward to welcoming the employees and customers of these four sites to Hedin Mobility Group.’
Earlier this week, Car Dealer reported that Hedin Group had been given an extension to its ‘put-up or shut-up’ deal deadline to buy car dealer group Pendragon.
A £400m deal with the Swedish firm is believed to be ‘as good as done’ and that the Pendragon board spent are said to have spent last weekend putting the finishing touches to it.
The outfit is already the largest shareholder in the Car Dealer Top 100 company and recently blocked a rival takeover bid from US car dealer group Lithia Motors.
Pendragon recently revealed a pre-tax profit of £14.7m in the third quarter and said it was on course to meet full-year expectations.
