Autosports Group has confirmed that it has completed its acquisition of Auckland City BMW Ltd.
The group has taken over 100% of Auckland City BMW’s shares, for the sum of $70m.
Auckland City BMW Ltd comprises four Auckland dealerships. They are Auckland City BMW, Auckland Mini Garage, East Auckland BMW and Mini, and Rolls-Royce Motor Cars Auckland.
“We are very excited to enter the New Zealand market with a well-established luxury business providing immediate scale and geographic diversity for our Group,” says Autosports Group chief executive Nick Pagent.
“Completion of this international acquisition marks an important milestone in our growth strategy and reinforces the positive business relationship we have built with BMW Group over the last five years.
“We look forward to working closely with Ian Gibson who continues as Dealer Principal and welcome the Auckland City BMW team to Autosports Group.”
As previously reported, in Australia Autosports Group owns five BMW dealerships and three Mini dealerships, all spread across New South Wales and Victoria. It also owns Rolls-Royce’s Sydney dealership.
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