Simpar reported that its subsidiary Original Holding has signed contracts for the purchase of 100% of Autostar Comercial e Importatora Ltda worth R$364.1 million.
“The acquisition of Autostar strengthens Original Holding’s position in the high-end vehicles and motorcycles segment, marking the company’s entry into the vehicle armor segment, as well as increasing the diversity of brands, products and services offered to customers. , with SBR”, highlighting the company in a material fact submitted to the Securities and Exchange Commission (CVM).
BMW (3 stores), Volvo (2 stores), Harley Davidson (2 stores) as well as Jaguar/Land Rover, Mini, Chrysler/Jeep/Dodge/Ram, Triumph and KTM became part of the Original Holding portfolio. , with one unit of each brand, all located in the upscale neighborhoods of the city of São Paulo, Brazil’s largest luxury car market.
According to the company, the transaction will add BRL 893.5 million to Original Holding’s revenue and generate combined gross revenue of BRL 4.2 billion by 2021, considering the acquisition of Sagamar and UAB Motors.
Adding the announced acquisitions to its existing Original Holding business, the combined company would have sold 27,528 vehicles in 2021, with an average of BRL 156,000 for new vehicles and BRL 75,000 for used vehicles.
The combined company would be based on 2021 R$4.0 billion Net Income, R$300 million Ebitda and adjusted net income of R$166 million. The data takes into account unchecked numbers.
sellers
Vendors are American Star Vehicle Trading, Bikestar Motorcycle Trading, British Star Motorcycle Trading, Moto Star Motorcycle Trading and SBR Trading & Armor Services.
Shares will be paid in 50% cash and 50% Original Holding shares, and Autostar dealers will acquire a joint stock equivalent to 15.4% of Original Holding.
The company’s shareholder, director and founder, Maurício Portella, will continue to lead Autostar and contribute to the development of Original Holding with his expertise in the market and with automakers over the past 30 years.
Original Holding will maintain the independence of the companies it buys, with the management, operation and sales structure of each of its brands.
Closing the transaction is subject to compliance with the usual obligations and conditions precedent for such transaction, including approval by the Administrative Council of Economic Defense (Cade) and approval by automakers.
The company also clarifies that since the transaction is carried out through the Original Holding, it is not dependent on the general assembly resolution and does not give the shareholders a right of withdrawal.
XP Investimentos became the exclusive financial advisor to the vendors in the transaction.
auto star
Founded in 1992, Autostar started its activities as a BMW dealership and established one of the main luxury vehicle dealership networks in Brazil.
Currently, Autostar represents 12 international brands in Brazil through 13 car dealerships located in the upscale neighborhoods of the city of São Paulo.
In addition to marketing, the company offers a range of complementary services such as maintenance, repairs, preservation and gift (Harley Davidson clothing) sales.
In 2021 Autostar sold R$863 million in Net Income, R$80 million in Ebitda, net income of R$38 million, net debt of R$43 million and 3,110 vehicles, an average of R$235,000 tickets for new vehicles and pre-owned vehicles R$ 154 thousand for vehicles.
Source: CNN Brazil
Source: Breitbart
