Automotive supplier for lighting and electronics, HELLA is selling its Danish and Polish wholesale companies, FTZ Autodele & Verktoj A/S („FTZ“) and Inter-Team sp. z o.o. („Inter-Team“), to the Swedish wholesaler, Mekonomen AB.
A consideration equivalent to profits generated from November 30, 2017 to completion of the transaction will also be paid to HELLA.
The sale is subject to approval by the relevant antitrust authorities and is expected to close in the 3rd quarter 2018.
“With Mekonomen, a renowned wholesaler, taking over our activities in Denmark and Poland, it will strategically develop the business,” explains Dr Werner Benade, HELLA managing director responsible for the aftermarket and special applications segment.
“We will systematically focus the aftermarket segment on the independent spare parts business and innovative workshop equipment.
“As part of this, we are accelerating the interaction between the divisions and opening up digital business models.”
Pehr Oscarson, president and CEO of Mekonomen, said: “Through the acquisition of FTZ and Inter-Team, we strengthen our position as a leading automotive spare-parts distributor in the Nordic region and take the step into Europe.
“The acquisition is in line with our strategy of playing a central role in the ongoing consolidation in Europe.
“These are two well-run companies that will continue to develop within the framework of existing corporate structures and brands as standalone companies in the Group.”
FTZ and Inter-Team employ a total of approximately 2,500 people.
The two wholesalers achieved total sales of around € 480 million in the 2016/2017 financial year.
For further information about HELLA, select ‘more details’ below.