Bilia expands the number of Toyota facilities in Norway through acquisition of parts of Funnemark AS
Nachrichtenquelle: globenewswire | 13.04.2021, 08:40 | 101 | 0 Bilia has today concluded an agreement to acquire Funnemark AS and Funnemark Sandefjord AS in Norway. The companies are authorized Toyota dealers, who conduct sales and service operations for Toyota cars at seven facilities in Vestfold, Telemark and Vikens fylke in Norway. Funnemark has been a car dealer since 1914 and with a market share of 10 per cent, it is today Norway’s second largest Toyota dealer. Through the acquisition, Bilia will take over operations conducted in five of the seven facilities. The five facilities taken over by Bilia are located in Porsgrunn, Notodden, Seljord, Larvik and
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Bilia has today concluded an agreement to acquire Funnemark AS and Funnemark Sandefjord AS in Norway. The companies are authorized Toyota dealers, who conduct sales and service operations for Toyota cars at seven facilities in Vestfold, Telemark and Vikens fylke in Norway. Funnemark has been a car dealer since 1914 and with a market share of 10 per cent, it is today Norway s second largest Toyota dealer.
Through the acquisition, Bilia will take over operations conducted in five of the seven facilities. The five facilities taken over by Bilia are located in Porsgrunn, Notodden, Seljord, Larvik and Sandefjord. The operations conducted by Funnemark AS located in Kongsberg and Hokksund will be taken over by Bauda AS. The acquisition does not include the properties where the business is conducted. The agreement is subject to approval by the Norwegian competition authority.