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Friday, 29.03.2024, 15:39
Estonia: United Motors buys Peugeot, Hyundai dealer Auto Forte
Kristo Karilaid,
board member of United Motors AS,
said that the company has been looking for new brands for its portfolio already
for some time.
"Auto Forte
is a strong Peugeot and wdealer who shares the same values as United Motors, attaching importance to
customer satisfaction and professional service," Karilaid said in a press
release Thursday.
Under the agreement, Auto Forte's previous owner and CEO Raido Toonekurg will continue at the
helm of the company at least for the next two years.
"Next year, we are planning to expand the Hyundai
showroom of Auto Forte and invest in service equipment," Toonekurg said.
The transaction will be completed after regulatory approval.
A dealer for Peugeot
and Hyundai in Tallinn, Auto Forte was the biggest Peugeot
representative in Estonia last year. The company's sales in 2017 amounted to
15.6 mln euros. In 2018, the company expects to boost its sales to 20 mln euros
and to sell 1,000 cars in total. The company employs a workforce of 32.
United Motors,
which currently employs 45 people, has been a dealer for BMW, Mini, KIA and Fiat in Estonia since 2000. Sales of United Motors in 2017 amounted to
30.7 mln euros.