Fleet News

Inchcape expands eastwards

Automotive retailer Inchcape has expanded its presence in the Baltic new car market.

The company has taken over Baltic Motors Corporation, which operates three dealerships in Latvia, from MVC Capital, in a deal worth £60.5 million.

Baltic Motors represents the Ford, BMW and Land Rover brands and completion of the deal hands Inchcape a market leadership position in Latvia with both distribution and retail of the three brands.

It also distributes and retails Mazda and holds the BMW franchise.

Inchcape group executive André Lacroix said: “We are very pleased with this further implementation of our strategy to expand in the emerging markets.

“This acquisition strengthens our relationships with our core brand partners and gives us a market leading position in the exciting, fast growing market of Latvia.”

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