HELLA sales FTZ and Inter-Team
HELLA has concluded the sale of the Danish and Polish wholesale businesses FTZ and Inter-Team.
After approval by the antitrust authorities responsible, both companies were transferred to the Swedish wholesaler Mekonomen. Subject to the terms of the transaction, the purchase price amounts to €395m.
‘We are delighted about the successful conclusion of the transaction. From now on we will be able to focus our aftermarket activities even more on the two strategic columns independent aftermarket and innovative workshop equipment,’ said Dr Werner Benade, managing director of the aftermarket and special applications segments at HELLA. ‘In particular, we are thus going to advance the interaction between both areas and accelerate the development of new digital business models.’
FTZ and Inter-Team employ a total of around 2,500 people. In the last fiscal year 2017/2018 the two wholesalers achieved total sales of around € 500m. This corresponds to approx. seven per cent of HELLA’s group consolidated sales.