The AA has announced the creation of AA Ventures.
AA Ventures will act as a key growth engine for the company, incorporating and having full responsibility for all new and unique businesses within the AA and will also run and manage any mergers and acquisition activity.
The business areas that fall within AA Ventures include: AA AutoWindshields; AA Cars and Service, Maintenance and Repair (SMR); AA Financial Services; AA Law; AA Publishing; AA Hospitality; AA Signs; AA Travel; AA Warranties and Inspection and mergers and acquisition activity.
Mark Huggins, former Managing Director of Acromas Financial Services, has been appointed Managing Director of AA Ventures. Mark has a wealth of experience in insurance and financial services having run and grown a number of businesses both within the AA and elsewhere. Prior to Acromas and the AA, Mark was Director of Bank of America (MBNA’s) Consumer Finance, Business Lending and Insurance businesses.
Chris Jansen, AA chief executive, said: “Since joining the AA in January 2014 I have been very impressed by not only the quality of our people and the power of our brand but also the wide range of businesses and services that we offer. By bringing together this “treasure trove” of non-roadside businesses as part of AA Ventures, we are taking a more holistic approach to growth opportunities. We see significant scope to further capitalise on the strength of the brand to build a business of significant scale, driving innovation and ensuring a level of outstanding service that our members and customers have rightly come to expect.”
Mark Huggins, managing director of AA Ventures, said: “Everybody is aware of the AA as the UK’s leading roadside assistance provider. However, what people are perhaps less aware of is the sheer number of smaller, innovative growth businesses within the Company. Through AA Ventures we plan to develop attractive new services that will help grow our presence in non-breakdown products and services, with the ethos of replicating the same world class service that AA roadside assistance is known for.”