Eagers takes full ownership of its BYD retail business

Eagers Automotive has agreed to buy the remaining 20% of EV Dealer Group, the joint venture that runs its BYD retail business in Australia, taking its ownership to 100%.

The deal is binding and unconditional, and is due to complete by 31 October. Eagers will pay in a mix of cash and its own shares, and has not disclosed the total value.

It will issue 1,126,779 shares, worth about $21.1 million, to the holder of EVDirect.com 2 Pty Ltd. The shares will be held in voluntary escrow for 12 months after completion. The cash component has not been disclosed.

Eagers expects the deal to add 5.0% to 5.5% to earnings, based on pro-forma underlying operating profit before tax for the 12 months to 30 June 2026. It says the purchase removes “the remaining non-controlling interest associated with the business”.

Eagers shares rose about 7% on the news to around $20, according to Reuters.

From 49% to 100%

Eagers formed the joint venture with EVDirect, founded by Luke Todd, to retail BYD vehicles nationally after the brand’s 2022 launch. It lifted its stake from 49% to 80% in July 2023.

BYD Australia took over national distribution from EVDirect in July 2025, leaving EVDirect to focus on retail through EV Dealer Group.

BYD was Australia’s second-best-selling brand in September, with 8191 sales, up 61.1%, according to VFACTS, and passed 150,000 Australian deliveries last week.

The deal follows Eagers’ purchase of 50% of the Zagame group in September. Earlier this year it bought 65% of CanadaOne Auto Group.