Bilia has today reached an agreement to acquire Kokstad Autosenter AS, which sells used cars and a brand-independent service workshop. Operations are conducted at two facilities in Bergen, Norway.
The acquired business achieved sales for 2021 of approximately SEK 110 million with an operating margin of 3%. The number of employees is 12 and the three current owners will continue to work in the company. The capital employed of the transaction plus agreed capital gains amounts to NOK 16m, with the possibility of an additional purchase price of up to NOK 12m in 2027.
The agreement is subject to the approval of the Norwegian competition authority. Access is expected to occur no later than June 1, 2022.
Per Avander, MD and CEO of Bilia, comments:
“I am pleased that Bilia, through Kokstad Autosenter AS, has access to a well-run business for the sale of used cars and a brand-independent service workshop in Bergen. Bergen is the second largest city in Norway and is of strategic importance for the future operations of Bilia.
Frode Hebnes, MD Bilia Norge AS, comments:
“We are very pleased with the acquisition and the future collaboration with Kokstad Autosenter AS, which means we are establishing our fourth Bilia Outlet factory in Norway. Through the acquisition, we continue to achieve strategic sales expansion of second-hand cars and the service business.The company is very well managed and fits well with Bilia.
Bjan Ullman, MD Kokstad Autosenter AS, comments:
“We were initially not interested in selling the business, but when Bilia contacted us, we were convinced that this was the next step for us. Bilia shares our philosophy and culture regarding good customer service and the desire to create a very good customer experience, which we see as confirmation of the work we have done at Kokstad Autosenter AS. With Bilia behind us, we look forward to continuing the work in the future.
Gothenburg, April 27, 2022
Bilia AB (ed.)
Bilia Group Facts
Bilia is one of the largest car dealerships in Europe with a leading position in the service and sale of cars, transport vehicles and trucks. Bilia has around 150 sites in Sweden, Norway, Luxembourg and Belgium. Bilia sells Volvo, BMW, Toyota,
Mercedes-Benz, Renault, Lexus, MINI, Porsche, Nissan, Dacia, Smart and Alpine and Renault, Toyota, Mercedes-Benz, Nissan and Dacia brand transport vehicles and Mercedes-Benz brand trucks.
Bilia now has a fully developed business with the sale of new cars, e-commerce, spare parts and in-store sales, maintenance and repair workshops, tires and automotive glass and financing, insurance, car washes, service stations and car recovery under the same roof, which gives a unique offer.
Bilia achieved a turnover of around SEK 35 billion in 2021 and had around 5,300 employees.
Bilia acquires Norwegian used car dealership with brand-independent service workshop