Finnish concern Veho will buy Mercedes-Benz general representative – companies Domenikss – business in Latvia. The transaction includes Mercedes-Benz import, retail and maintenance of passenger cars and commercial vehicles, companies inform.
The company is owned by its founder and president Benita Danilenko.
Veho is a car distributor in Finland, Sweden, Estonia and Lithuania. The company offers Daimler Group manufactured passenger cars and commercial vehicles together with a wide range of services, including mobility services.
In 2020 Veho turnover was 1.1 billion. The company had 2,200 employees. The company was founded in 1939 as Mercedes-Benz General Representative and has been family property ever since.
With this deal will be strengthened Veho positions in the Baltic region. Taking into account the development of the industry in Latvia and Mercedes the high status and popularity of the brand, Veho has long been considered a company Domenikss as a strong market player with a well-managed customer- and brand-oriented structure. This deal complements Veho Purchased in 2019 Silberauto business in Estonia and Lithuania.
After purchase Domenikss will continue to operate as a separate company. Its brand and offices will not change yet.
The parties have agreed not to publish the sale price or any further information related to this transaction. The transaction has yet to be approved by competition authorities.
“This acquisition is a logical step in the implementation of our strategy and is an important event for the entire sector in Northern Europe. Veho is growing as the world’s leading carmaker Daimler close partner in Finland, Sweden and with this acquisition – also in the Baltic States. Now together we can create unique services for our customers, provide career opportunities for our employees, as well as growth opportunities for our partners, “emphasizes Veho Executive Director Juha Ruotsalainen.
“In addition Mercedes-Benz production, Veho The goal is to offer our customers good, high-quality service and the best service experience throughout the automotive industry. We will adhere to the high standards set by Domenikss has introduced in Latvia, “says Kari Kauniskangass, Veho Chairman of the Board.
“I decided to sell SIA Domenikss several years ago and I am glad that the buyer is Veho group – perennial Daimler AG partner in Finland, Sweden and other Baltic countries. I would like to thank me for concluding this deal Domenikss team and in particular current board members as well as regular and loyal customers. Gan Veho group, though Domenikss were established and have grown as family businesses, we are united by similar values and operating principles, the desire for excellence in quality and delivery, so our customers and employees will benefit in the long run, “comments Benita Danilenko, Ltd. Domenikss former owner and chairman of the board. “
Until the Competition Council has approved the transaction, the parties will refrain from further comments.
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