Le Lézard
Classified in: Transportation, Business
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
 

CONTACT:

Further information:

press@hedinbil.se

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/anders-hedin-invest-ab/r/hedin-group-acquires-two-bmw-dealerships-in-zurich--switzerland,c3009942

The following files are available for download:

https://mb.cision.com/Main/16284/3009942/1175202.pdf

200116 Press Release Hedin expands to Switzerland with BMW


These press releases may also interest you

at 02:04
Cyient, a global engineering and technology solutions company, today announced that it had signed an agreement with Hitachi Rail to deliver a series of project engineering services to support Hitachi Rail accelerate the evolution of its signaling...

3 avr 2020
The Greater Toronto Airports Authority (GTAA), which operates and maintains Toronto Pearson under a ground lease arrangement with the Government of Canada, continues to work to ensure safe operations and to support the national economy through cargo...

3 avr 2020
With more Americans staying at home due to the novel coronavirus outbreak, businesses are highlighting new ways for customers to shop at home. San Francisco Toyota offers customers in the Bay Area the opportunity to shop online using the Toyota...

3 avr 2020
Public Services and Procurement Canada (PSPC) wishes to advise motorists that the Alexandra Bridge will be closed to vehicles for repair work during the following period:...

3 avr 2020
The coronavirus outbreak is affecting people across the world, across the country and throughout North Carolina. Businesses are changing the way they operate and that includes Lamborghini Charlotte. In an effort to adhere to social distancing...

3 avr 2020
Autohome Inc. ("Autohome" or the "Company"), a leading online destination for automobile consumers in China, today announced it filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 with the Securities and Exchange...



News published on 16 january 2020 at 09:41 and distributed by: