Alliance Automotive Group has finalised the acquisition of German motor factor chain and car dealership, Knoll.
Terms were not stated, though the deal did include delivery firm Transport + Logistik Schleiz and parts of Manfred Knoll Holding, which were acquired as part of an asset deal.
Knoll Holding had been managed by Manfred Knoll for over 60 years. Apart from vehicle parts and sales, the firm also owns a number of Bosch Car Service centres and even runs a kitchen remodelling business.
Fabian Roberg, CEO of AAG Germany, said, “Knoll is a company with a long history of success and strong ties to its customers. Knoll and AAG have many things in common, such as a supplier base, a shared corporate culture, and a bond of partnership with employees and business partners. Because of this common background, I believe that Knoll and AAG have the best prerequisites to be successful together in the market. I am confident that we will develop new growth opportunities in our markets.”
The deal is subject to all the usual regulatory approvals.