AutoWallis Plc. is purchasing Renault Hungária Kft. together with a major player on the European automotive market, the Portuguese Salvador Caetano Group, thus attaining exclusivity for sales of vehicles of Renault, Dacia and Alpine brands in Hungary. This transaction is submitted to the approval of the relevant competition authorities. The start of operations of the new organisation is scheduled for July 1st, 2022.
AutoWallis Plc., listed in the Premium category of the Budapest Stock Exchange, has agreed on yet another substantial acquisition after having concluded a tripartite agreement with Renault Group and the Portuguese Salvador Caetano Group. Under the deal, AutoWallis and Caetano will create a new company (AutoWallis Caetano), with each holding a 50% stake, to purchase Renault Hungária Kft., which is the distributor of the Renault, Dacia and Alpine brands in Hungary. As a result, the two vehicle sales and mobility service provision companies will gain equal shares in the Hungarian national sales company, which had revenues of HUF 70,3 billion in 2021, providing all the conditions necessary for the transaction are met. The start of operations of the new organisation is scheduled for July 1st, 2022. AutoWallis believes that this project can be a launchpad for further future cooperation with both Caetano and Renault Group. In 2021, Renault Hungária sold a total of 8,139 Dacia vehicles, making it the 7th largest brand on the Hungarian market; in the same year, 5,207 Renault vehicles were sold.
The method used to purchase Renault Hungária is unusual not only on the Hungarian, but also the entire European market, as it is based on the strategic cooperation of two companies that work in the same industry but in different geographic environments, meaning they are not direct competitors – explained Gábor Ormosy, CEO of AutoWallis Plc.. He added that in addition to the three brands involved, AutoWallis will continue its independent growth, developments, acquisitions, and the implementation of its strategy in other areas. With this step, AutoWallis will continue to bolster its market position with the possible addition of major brands to its wholesale portfolio.
Philippe Buros, Senior Vice-President, Sales & Marketing and Services of Renault Group said "The Salvador Caetano Group is long-standing partners of the Renault Group whereas AutoWallis Group is a recognized distributor in the Central and Eastern European region. They were chosen for their complementarity. Thanks to this agreement, I am very confident that Renault Group will achieve its strategic ambition in Hungary.”
Miguel Ramos, CEO of Salvador Caetano Group said “This agreement for Hungarian market is another step in Salvador Caetano partnership with Renault Group and our expansion plan in Europe. Our collaboration with AutoWallis Group opens an exciting opportunity to develop further the pillars of our strategy and contribute to the implementation of Renaulution in Hungary.”
Welcoming the transaction, head of AutoWallis’s Distribution Business Unit Andrew Prest said that Renault is a bold and iconic brand with huge market recognition and a remarkable record for innovation, while Dacia vehicles are famed for their reliability and affordability. He added that Renault Group is at the forefront of new technology development and European market leader in electric vehicles and it will be a privilege to represent these brands in Hungary and a great opportunity to partner with Salvador Caetano. He emphasised that the transaction demonstrates that AutoWallis already has importer experience that is substantial enough to attract the attention of international vehicle market players. AutoWallis is present in 14 countries in the region, while the Portuguese Salvador Caetano has significant experience in vehicle sales primarily on the Iberian Peninsula and in South America and Africa.
About Salvador Caetano
Established in 1946, Salvador Caetano is a Portuguese-based international group that employs more than 6.750 people in 41 countries and 3 continents (Europe, Africa and Latin America). We proudly represent 25 brands in Importer contracts and 36 brands in Retail, with investments in Industry, Automotive Distribution, Mobility Services & Others. Our strategy involves reinventing new business models and developing services in line with our Customers’ needs, without ever forgetting our history, but also without ever compromising our strong nature of innovation and modernity. www.salvadorcaetano.pt
AutoWallis Plc., a company listed in the Premium category of the Budapest Stock Exchange, as well as in the BUX and BUMIX indices, aims to become a major vehicle trading company and mobility service provider in the Central and Eastern European region by the end of the decade and to expand its automotive investment-focused investment portfolio through acquisitions. The AutoWallis Group is present in 14 countries of the Central and Eastern European region (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia, Slovenia), where it is engaged in the retail and wholesale of vehicles, parts, and accessories, in repair and maintenance services, as well as in short- and long-term vehicle rentals. The brands represented by the group include BMW cars and motorbikes, Dacia, Isuzu, Jaguar, Land Rover, Maserati, MINI, Nissan, Opel, Peugeot, Renault, SsangYong, Suzuki, and Toyota, as well as Saab spare vehicle parts, and Sixt rent-a-car. AutoWallis is the two-time recipient of the “The Share Capital Increase of the Year” award at Best of BSE Award Galas (2020, 2021). ). www.autowallis.hu www.facebook.com/AutoWallis