Mekonomen acquires HELLA’s wholesale activities
HELLA is selling its Danish and Polish wholesale companies, FTZ Autodele & Verktoj and Inter-Team to the Swedish wholesaler, Mekonomen.
A corresponding agreement has been signed by both companies. The purchase price amounts to €395m on a cash and debt-free basis. In addition, a consideration equivalent to profits generated from 30 November 2017 to completion of the transaction will also be paid to HELLA. The sale is subject to approval by the relevant antitrust authorities and is expected to close in the third quarter 2018.
‘With Mekonomen, a renowned wholesaler, taking over our activities in Denmark and Poland, it will strategically develop the business,’ explained Werner Benade, HELLA managing director, aftermarket and special applications segment. ‘We will systematically focus the aftermarket segment on the independent spare parts business and innovative workshop equipment. As part of this, we are accelerating the interaction between the divisions and opening up digital business models.’
FTZ and Inter-Team employ a total of approximately 2,500 people. The two wholesalers achieved total sales of around €480m in the 2016/2017 financial year. This corresponds to some seven per cent of HELLA’s group consolidated sales.