Perth-based car dealer network Automotive Holdings Group is flexing its muscles in Australia’s truck and bus market, announcing a number of acquisitions in NSW and Queensland.
AHG said today it had reached an agreement to purchase Mercedes-Benz Commercial Vehicles dealerships in Newcastle, Rocklea and Caboolture and the SelecTrucks business in Brisbane from Mercedez Benz Australia Pacific for $8 million.
The dealerships encompass the Mercedes-Benz, Freightliner and Fuso Brands, while AHG said it also acquired Newcastle Hino from Bradstreet Automotive Group.
Managing director Bronte Howson said the acquisitions gave AHG the broadest truck and bus portfolio in the Australian market.
Mr Howson said the purchases would complement the acquisition of Perth-based Diesel Motor Trucks, now known as Daimler Trucks, which has become the number one volume Mercedes-Benz and Fuso truck dealer in Australia.
“Given the success of Daimler Trucks Perth, we’re excited about our prospects with the Daimler Trucks range of Mercedes-Benz, Freightliner and Fuso in NSW and Queensland,” Mr Howson said.
“Through these acquisitions we are growing our presence in the WA, Queensland and NSW truck and bus markets with experienced dealer principals and world-leading brands that have the capacity to grow revenue from sales, service and parts.”
AHG stocks were down 1 per cent at 11:40AM, WST, trading at $2.77.