Global Auto Holdings Set to Acquire Denmark's K.W. Bruun Import in $1.2 Billion Deal

Canada's Global Auto Holdings is nearing a deal to acquire Denmark's K.W. Bruun Import for approximately $1.2 billion, including debt, as reported by the Wall Street Journal. This acquisition would mark a significant expansion for Global Auto Holdings, establishing a strong presence in Europe's automotive market.

The auto industry continues to witness a wave of consolidation, with Global Auto Holdings, a leading Canadian car dealer network, announcing its intention to acquire Denmark's K.W. Bruun Import for approximately $1.2 billion [1]. This deal marks a significant expansion for Global Auto Holdings, bolstering its presence in Europe's automotive market.

Established in 2002, Global Auto Holdings has built a strong reputation in North America, with 16 locations across the US and Canada [1]. The company boasts agreements with major automakers like Audi, Ford, BMW, Toyota, and Mercedes [1]. With this acquisition, Global Auto Holdings aims to replicate its success in Europe.

K.W. Bruun Import, founded in 1908, is a well-established Danish car dealer network, operating from about 150 sites [1]. The business traces its roots back to Manchester, where it initially sold bicycles, parts, and used cars [1]. Over the years, it has evolved into a major player in the European auto market, selling cars from brands such as Jaguar, Kia, and Maserati [1].

The deal, which is expected to value K.W. Bruun Import at approximately 120p-a-share [1], is likely to be announced as early as this week [1]. It is important to note that both parties have declined to comment on the matter at this time [1].

The acquisition of K.W. Bruun Import comes at a time when the UK car dealership sector is experiencing a surge in overseas interest [1]. With listed UK dealers believed to be relatively cheap and likely to benefit from industry consolidation, many analysts view this trend as a positive development for the sector [1].

As Global Auto Holdings continues to expand its global footprint, the company is poised to capitalize on the growing demand for automotive services in Europe. With its strong reputation and proven track record, Global Auto Holdings is well-positioned to thrive in this new market.

[1] Sky News. (2023, March 13). Canada's Alpha Auto Group revs up $400m swoop on car dealer network Lookers. https://news.sky.com/story/canadas-alpha-auto-group-revs-up-400m-swoop-on-car-dealer-network-lookers-12905681