Malaysians snap up Parramatta Trivett dealerships

Malaysians snap up Parramatta Trivett dealerships for $112m

Malaysian conglomerate Sime Darby has stamped its mark on Parramatta’s “auto alley” after buying three luxury car dealerships from prestige car sales rival Trivett for $112 million.The triple swoop includes both the properties and businesses of Trivett on Parramatta’s car dealership-clogged Church Street boulevard. Collectively, they sell BMW, MINI, Volkswagen, Jaguar and Land Rover vehicles.

Sime Darby Parramatta swoop includes the BMW and MINI dealerships of Trivett Fairfax Photographic

The BMW and MINI dealerships are at 42-64 Church Street with the Jaguar, Land Rover and VW dealerships running from 14-18 Church Street.

The vendor Trivett, a subsidiary of London-listed car sales and distribution giant Inchape Plc, calls itself Australia’s “largest prestige auto group”.

“The proposed investment is aligned to Sime Darby Motors’ strategy to expand via mergers and acquisitions, targeting the retail luxury and super luxury segments, particularly in large markets like Australia,” said Patrick McKenna, managing director of Sime Darby Motors Australia and New Zealand.

“The addition of these dealerships to our existing Porsche Parramatta operations will expand our scale in the retail luxury business at one of Sydney’s most recognised automotive retail locations,” he added.

The acquisitions will also bolster Sime Darby’s already substantial presence in Australia’s car dealership scene. This includes BMW, Ferrari and Rolls Royce dealerships in Brisbane operated through its LMM Holdings Network, a joint venture between Brisbane car dealers Martin Roller and Marvin Burke and Sime Darby Motors.

It will also mean that Sime Darby Motors represents the BMW, MINI, Volkswagen, Jaguar and Land Rover in all the international markets it operates in including China, Hong Kong, Thailand, Singapore, Taiwan and New Zealand.

Making moves

The acquistion of the Trivett dealerships follows soon after Sime Darby’s purchase of the trans-Tasman Gough Group.

Sime Darby sells more than 80,000 cars a year across more than 30 brands. Its other businesses include the sale and rental of construction equipment, logistics and private healthcare.

This article is from The Australian Financial Review, you can read the full article here:

https://www.afr.com/property/commercial/malaysians-snap-up-parramatta-trivett-dealerships-for-112m-20190916-p52rrb