Trivett sold for $116 million

Vehicle importer and dealer group Inchcape has paid 78 million pounds ($116 million) for Australia’s largest prestige and luxury retailer the Trivett Group.

The March 1 acquisition of 22 dealerships representing brands as diverse as Porsche, Rolls-Royce, Bentley, BMW, Jaguar, Land Rover, Volvo, Aston Martin and McLaren is believed to be part of a broader strategy to control more automotive dealerships in Australia.

It will boost the Australian retail presence of Inchcape – which also imports Subaru into Australia – from the existing 38 outlets representing more volume-selling brands including Kia, Subaru, Mitsubishi and Isuzu.

In announcing the deal in the UK this morning Inchcape group chief executive André Lacroix said the move was in line with expansion plans for the Asia Pacific region.

“It was important for us … to ensure what we’ve built will not only continue but prosper” … Trivett Executive chairman Greg Duncan, pictured. Photo: Anthony Johnson

“This is a significant step in the development of our operations in Australasia, giving us the opportunity to build further scale with premium and luxury brands represented in high quality retail centres in Sydney,” said Lacroix.

This article is from Drive, you can read the full article here:

https://www.drive.com.au/motor-news/trivett-sold-for-116-million-20130220-2ero4