July 26, 2023 - Hedin Automotive B.V., a subsidiary to Hedin Mobility Group, has reached an agreement to acquire all shares in Renova Automotive Group B.V. The acquisition comprises all of the Dutch dealer group’s BMW and MINI activities, which includes sales of new and used vehicles as well as aftermarket services and damage repair operations.

The acquisition encompasses five full-service BMW dealerships, of which three also represents MINI, and two standalone damage repair shops in Central and West Brabant and Zeeland. Renova Group employs a total of 250 people, all of whom will continue their employment within Hedin Automotive after the acquisition is completed.

In 2022, Renova’s BMW and MINI market shares were both over 9% and the group’s turnover amounted to approximately MEUR 200. Through the acquisition of Renova, Hedin Automotive strengthens its market position in the south-west of the Netherlands and adds BMW and MINI to its Dutch brand portfolio for the first time.

Once the acquisition of Renova has been completed, Hedin Mobility Group will represent BMW and MINI at approx. 60 sales points in five countries.

Renova Group is a family business that started in Tilburg in 1961. The desire to offer BMW and MINI drivers a full-service offer in more parts of the Brabant province led to expansion to the cities of Waalwijk and Breda. At the beginning of 2020, the group expanded further through the acquisition of Zwartepoorte with branches in Goes and Roosendaal.

Eddy Haesendonck, CEO Hedin Automotive Benelux said:

"Renova Group is an excellent family business with a long history in an area where we do not yet have any activities. Through the acquisition, we are delighted to be able to expand our brand portfolio with BMW and MINI to a total of 28 leading car brands. On behalf of all colleagues at Hedin Automotive, I would like to extend a warm welcome to the competent and enthusiastic team of Renova Group!"

Jan-Hein Alkemade, owner of the Renova Group said:

“After 35 years of leading the Renova companies, they will move under the banner of Hedin Automotive. This acquisition further strengthens the position of our companies. Renova has reached its current position thanks to all our employees, for which I owe them a great debt of gratitude. I wish Hedin Automotive and my colleagues a bright future together!”

Subject to regulatory approval, the transaction is expected to be completed in the third quarter of 2023.