Autosports Group has agreed to acquire three New South Wales dealerships from Grand Motors Group, expanding its Mercedes-Benz and Chery operations in Sydney.
The ASX-listed automotive retailer will acquire Mercedes-Benz Parramatta, Mercedes-Benz Castle Hill and Chery Castle Hill through its wholly owned subsidiary New Centenary.
Completion is targeted for February 2027 and remains subject to several conditions, including approval from the Australian Competition and Consumer Commission.
Financial details of the transaction were not disclosed.
Autosports Group chief executive Nick Pagent says the acquisition will strengthen the company’s relationship with Mercedes-Benz and increase its presence across Western Sydney and the Hills District.
“This strategic acquisition deepens our collaboration with Mercedes-Benz,” Pagent says.
“It expands our Mercedes-Benz customer base and market presence across Western Sydney and the Hills District and strongly aligns with our luxury brand growth strategy.
“We thank Grand Motors Group for its goodwill and support throughout the transaction, and Mercedes-Benz and Chery for their support.”
Autosports Group operates more than 90 automotive businesses across Sydney, Melbourne, Canberra, Brisbane, the Gold Coast, Adelaide and Auckland.
Its operations include new and used vehicle dealerships, motorcycle dealerships, used-vehicle outlets and specialist collision-repair facilities.
The company was established in Sydney as a single luxury dealership in 2006 and is Australia’s only ASX-listed automotive retailer specialising in prestige and luxury brands.
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