Super Group buys majority stake in South African arm of Chinese auto company
Great Wall Motors South Africa (GWM SA) has announced that JSE-listed transport logistics and mobility company Super Group has acquired a 50.1% stake of its business for an undisclosed amount in March, “marking the start of exciting business opportunities for both companies”.
GWM SA was launched seven years ago, and is the importer of Chinese GWM-branded vehicles.
GWM SA consists of a national dealer network of 75 dealers, more than 50 000 GWM vehicles on the country’s roads, as well as a parts distribution warehouse, which holds more than R160-million in stock.
“The investment from Super Group into the GWM business further cements our presence in the South African auto industry. We look forward to harnessing all the synergies and opportunities brought forth by our allegiance with this reputable group,” says GWM SA chairperson Tony Pinfold.
“For us, the acquisition of a 50.1% stake in GWM SA definitely fits the profile of a sound and complementary business investment,” notes Super Group CEO Peter Mountford in turn.
“GWM has proved to be a brand that is going places – both globally and in South Africa. Super Group has a wide range of expertise in the supply chain and logistics arena, as well as in parts distribution, dealerships and the fleet management business, all which will significantly complement and benefit GWM in the future. We are very excited about the prospects of this new association.”
The acquisition will not affect the day-to-day running of local GWM operations, promises GWM SA.
The company recorded sales of 296 units in Febuary, down substantially from the 714 recorded in February 2013.
January sales were 483 units, down from 852 units in January 2013.
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