Eagers Automotive Limited → NGP Victoria Dealership Group (13 dealerships and 3 properties, from Nick Politis)

completed

Deal announced2023-10-10

BuyerEagers Automotive Limited

SellerNGP Victoria Dealership Group (13 dealerships and 3 properties, from Nick Politis)

SectorAutomotive Dealership

ValueA$250.0M

Deal typeM&A

Eagers Automotive agreed to acquire a portfolio of 13 dealerships (BMW, Jaguar, Land Rover, Mercedes-Benz, MG, Mini, Mitsubishi, Nissan, Renault, Skoda, Volkswagen, Volvo) and 3 properties across Melbourne and the Mornington Peninsula from Nick Politis' NGP Victoria Dealership Group, for A$250 million. Completed 29 February 2024, adding ~A$1bn to Eagers' annual sales.

Why the buyer wanted it

Eagers wanted to significantly scale its Victorian dealership footprint (to A$2.5bn annual turnover) with an established multi-brand portfolio in one transaction.

Why the seller agreed

Politis' NGP Victoria received a A$25 million portion in Eagers shares, retaining some ongoing alignment with the combined group.

Stock reaction

Not specifically detailed in available coverage.

Deal mechanics

Deal structure

Predominantly cash, with a A$25m share component to the vendor

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Eagers Automotive Limited → NGP Victoria Dealership Group (13 dealerships and 3 properties, from Nick Politis)

Deal mechanics

Comparable deals in Automotive Dealership

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