Bilia

Bilia has reached an agreement to acquire Bil AB Ove Olofsson and Olofsson Däckcenter AB in Stockholm. The business is conducted in five facilities, of which four facilities in Haninge and one facility in Nacka. Bil AB Ove Olofsson is a dealer of Volkswagen, Audi, Skoda, Seat and Cupra cars as well as Volkswagen transport vehicles with associated sales of used cars and service operations with associated tire operations in Olofsson Däckcenter AB.

The agreement is conditional on approval from the Swedish Competition Authority. The deal is expected to take place on April 2, 2024. During the business year 2023, the operations turnover amounted to approximately SEK 1.3 Bn, with an operating margin of 3.2 percent. The number of employees were 165 at the end of 2023. The capital employed plus agreed surplus values amounts to approximately SEK 200 M.

“I am very happy that Bilia is growing within the Volkswagen Group. We are doubling our market share within the Volkswagen Group in Sweden and look forward to develop this well-run company. This acquisition complements our existing business well and involves five facilities in geographically good areas in the southeast of Stockholm, where we will offer customers high-quality service” says Per Avander, CEO Bilia AB.

“We have had an exceptionally good partnership with Olofsson Bil and their team, for many years. We thank the current owners for this, and at the same time look forward to continuing the collaboration with the competent team on site, under Bilia’s new management” says Claes Jerveland, President and CEO Volkswagen Group Sverige AB.

“After careful consideration, we have decided to sell our family business after almost 60 years. The most important thing for us has been to find a confident and financially stable owner who cares as much about their employees and their loyal customers as we do.
We are convinced that Bilia will develop and manage the business into the future. The industry is changing and we as retailers must adapt our operations in the same direction, which we are convinced that Bilia will manage in the very best way” says Maria & Ulf Olofsson, owners of Bil AB Ove Olofsson and Olofsson Däckcenter AB.

Gothenburg, February 23 2024

Bilia AB (publ)