Subjects: TNM, PDT
Hedin Group Acquires two BMW Dealerships in Zürich, Switzerland
STOCKHOLM, Jan. 16, 2020 /PRNewswire/ -- Hedin Group, one of the largest privately-owned automotive retailers in Europe, expands to Switzerland though the acquisition of SeeAll Group. In addition, Hedin confirms it has entered in exclusive negotiation with BMW Switzerland to further acquire the BMW-owned branch Zürich-Dielsdorf (Niederlassung).
SeeAll Group's two dealerships, Allmend Garage and Seeblick Garage, are Hedin's first in Switzerland, adding to the existing relationship with BMW in Norway and Sweden. The Swiss dealerships had a turnover of around 100 million Swiss franc in 2019. The acquisition expands Hedin's total representation to 123 dealerships across four countries.
Upon closing, SeeAll will become part of a wholly owned, newly established Swiss subsidiary of Anders Hedin Invest AB, folded into the Scandinavian BMW division, Hedin Automotive in Norway. Through the I.A. Hedin Bil AB subsidiary, Bavaria, Hedin Group is the largest dealer of BMW and MINI in Scandinavia. The Bavaria brand stands for quality and lives up to its vision of being surprisingly different and noticeably better.
"We are pleased to expand our dealership footprint to Switzerland and to increase our long-standing, strong partnership with BMW," said Stig Saeveland, chief executive officer of Hedin Automotive Norway.
Key Strategic Decision to Ensure Future Success
"The expansion to Switzerland is an important milestone in our company history. SeeAll reinforces our position in Europe, leveraging on our existing alliance with BMW to accelerate our international development in a fast-changing industry. Automotive retail is becoming increasingly competitive and is undergoing considerable technological and market driven changes. With this highly strategic acquisition we strengthen our position for the future," said Anders Hedin, Owner & CEO of Hedin Group.
"I am extremely proud of my team and what we have accomplished together. SeeAll is a sound company with great people. The time was ripe for our business to grow further to ensure our success in many years to come. We will continue our BMW operation in Zürich with a clear customer focus, but backed by the strength and support of an international automotive group," said Ruedi Wöll, Owner & CEO of SeeAll Group.
"We want to welcome Hedin to Switzerland. As a significant partner for BMW in Scandinavia, Hedin, with its strong customer centric culture, has a proven ability and desire to take BMW in Zürich to the next level. The acquisition is fully in line with our dealership strategy," said Paul de Courtois, President & CEO BMW Group Switzerland.
Should the acquisition of BMW Niederlassung-Zürich-Dielsdorf be successful, the dealership will become a part of the Swiss Hedin Automotive subsidiary.
Anders Hedin Invest AB
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