Automotive Holdings Buys majority stake in Carlins Auction Group

Company News

by Jessica Amir

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.
 

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