Great Wall Motors South Africa (GWM SA) announced on Monday that JSE-listed transport logistics and mobility company Super Group had acquired 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 consisted 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 held 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,” said 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,” noted 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 would not affect the day-to-day running of local GWM operations, said GWM SA on Monday.