Automotive Holdings Group Limited
(ASX:AHG) has acquired a majority stake in the wholesale platform, Carlins Auction Group.
Australia’s largest automotive retail and logistics service company says it plans to now establish a national platform which will allow AHG to expand vehicle re-marketing in Melbourne, Sydney and Brisbane.
Automotive Holdings says the purchase will also complement its franchised dealerships and its easyauto123 non-franchised used car strategy.
The Carlins business buys and sells around 7,500 vehicles, which equates to close to $60 million per annum.
The transaction also includes options for AHG to assume full ownership of the business.
Shares in Automotive Holdings Group Limited
(ASX:AHG) are trading 1.86% lower to $3.43.