Hedin Automotive has agreed to buy the Torpedo Gruppe’s dealerships in Germany.
Founded in 1928, family-run Torpedo Gruppe is one of the oldest and largest dealer groups in Germany.
In 2022, Torpedo Gruppe sold 12,000 new and used vehicles with net sales of £527m Euros.
Present at 21 locations in Brandenburg, Saxony, Rhineland-Palatinate, Saarland, Hesse and Baden-Württemberg, it represents Mercedes-Benz, smart, Hyundai, and Land Rover.
It is also one of the dealer groups that are retailer of BYD in the German market, where the Hedin-owned subsidiary Hedin Electric Mobility GmbH since 2022 is distributor of the EV brand’s passenger cars.
Anders Hedin, founder and CEO of Hedin Mobility Group said: “The opportunity to propel our pan-European business and establish a significant presence in one of the world’s largest markets is one we are both very excited and humbled by.”
Hedin has been on the acquisition trail buying four Mercedes-Benz dealership in the UK in 2022 and signalling its intention to buy other UK businesses having established a ‘foothold’