Bilia, the Swedish automotice group, has announced that it has concluded an agreement to acquire the Arnold Kontz BMW and MINI dealership in Luxembourg.
The operation represents about 50% of the total BMW sales in Luxembourg; BMW has a strong position, with a market share over the last years of about 10% across the Grand Duchy. The Arnold Kontz Group employs 147 staff in Luxembourg
The date of possession is planned for 31 March 2016. The operation has for many years accounted for a high and stable profitability. The annual turnover is about €118 million and the operating profit is this year forecasted to about €4.5 million. The capital employed plus agreed surplus values amount to about €36 million.
Per Avander, Bilia’s Managing Director and CEO, commentsed “We are very pleased to be able to grow with BMW in Luxembourg. The operation is well managed and has accounted for a high and stable profitability. The acquisition gives us good conditions to increase Bilia’s presence in the region.”
Benji Kontz, Arnold Kontz Group’s Managing Director and partner, commented “We are happy to have found in Bilia the fair and serious partner of choice to take over our strong and profitable BMW dealership in Luxembourg-City. I am very confident that Bilia will take the business to new records, while preserving its family character for employees and customers."
