The acquisition effectively supports the company's strategy, which aims to further expand through acquisitions in addition to organic growth and business development, the AutoWallis Group says in a statement.
With the acquisition, the AutoWallis Group is establishes its presence in the Czech car retail market in addition to the Hungarian and Slovenian ones, while its wholesale business distributes several well-known car brands in 16 countries of the region.
In the first step of the transaction, AutoWallis purchased 80% of Stratos Auto that owns the three BMW dealerships, which it will increase to 100% within two years by acquiring the remaining share. With the acquisition, AutoWallis acquired 10% of Czech BMW sales in one step, which accounted for almost 4% of the country's premium car sales last year.
In the Czech Republic, 244,000 new passenger cars were put on the market in 2023, which was almost double the amount in Hungary. While the Hungarian passenger car market decreased by 3.4% last year, sales in the Czech Republic increased by 15%. This clearly shows that the further geographic diversification of the AutoWallis group's portfolio supports the stable growth of the company and further strengthens the group's dominant position in the car trade and mobility services market of the Central and Eastern European region.
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