Alcopa joins forces with Bergé Auto
The Belgian car distribution company Alcomotive becomes a joint venture between the mother company Alcopa and the automotive distribution group Bergé Auto. Bergé Auto will be the majority partner with a 60% share, while Alcopa will hold the remaining 40%.
Alcomotive distributes near to 30 000 vehicles per year in 6 European countries and will be jointly owned by Alcopa and by Bergé Auto, which sells 150 000 cars per year in 9 markets in Europe and Latin America.
The transaction must first be approved by the EU competition authorities and is expected to be completed in the next 2 to 6 months.
Two bigger players
The Alcomotive group, part of the investment firm Alcopa (owned by the Moorkens family), is an important player in the distribution of cars and motorcycles in Europe. It sells cars from Hyundai, Suzuki, Isuzu, Maxus, MG, and SsangYong in geographies including Benelux, Germany, Switzerland, and Poland. In 2019, the turnover of Alcomotive reached 840 million euros.
Bergé Auto is a Spanish, privately-owned company and a strong and renowned automotive distribution group, selling yearly over 150.000 cars from 28 car brands in 9 markets, including Spain, Portugal, Finland, Switzerland, and several key Latin American markets. In 2019, it generated a turnover of 3,1 billion euros.
Alcomotive will try to benefit from the expertise of Bergé Auto, notably in digitalization and mobility solutions, in which the group has heavily invested over the past few years. Bergé Auto develops an ambitious growth strategy, and Alcomotive will become one of the drivers of this growth in the EU.
The joint venture will allow Bergé Auto to add Belgium, the Netherlands, Luxembourg, Poland and Germany to its geographies, and Suzuki, and Maxus to its brand portfolio. The new joint venture will now cover 14 markets and approach 200.000 sales yearly.
No impact on daily functioning
The intention to make Alcomotive a joint venture has no impact on the daily operations of the company and its employees, and there are no redundancies in this scope. Although Bergé Auto will hold the majority of shares of the company, Damien Heymans, current Managing Director, will remain in this function.
Moteo, another Alcopa daughter which is specialized in 2-wheels distribution and currently represents 6 brands of motorcycles and scooters in 6 EU countries, is not part of this agreement and will further operate as a wholly-owned portfolio company of Alcopa.
Damien Heymans and Axel Moorkens, Managing Directors of Alcopa, declared: “In a volatile automotive market environment, it is crucial that strong players join forces if they want to successfully tackle the challenges of the future.”
“We are delighted with this partnership with Bergé Auto, as both groups share the same family values. Alcomotive’s employees and partners can rest assured that we will continue to adopt the same approach in the way we do business,” they concluded.
Jorge Navea, CEO of Bergé Auto, said that “it is with great satisfaction that Bergé Auto has signed an agreement with a leading business group like Alcopa, a joint venture that will undoubtedly increase the scope of our business in today’s highly competitive European automotive market.”
“With the contribution of our extensive experience in digital transformation and in the new mobility ecosystem, we are fully committed to driving long-term growth for the brands and dealer networks of this partnership,” he added.