The Fair Trading Commission (FTC) has approved the sale of Barbados-based automotive companies Interamericana Trading Corporation (ITC) Barbados and Simpson Motors Limited to a major global player. However, in an effort to ensure the future survival of Barbados’ other automobile dealerships, the regulator has revealed that Inchcape International Holdings Limited will have to “notify the Commission if it plans to introduce any new brands to its portfolio of offerings that …
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Simpson Motors, which was founded by businessman Sir Kyffin Simpson 50 years ago, has been acquired by global automotive distributor Inchcape. In a statement released by Inchcape, Sir Kyffin, founder of Simpson Group, said: “In the 50th anniversary year of our group’s foundation, I am delighted that Inchcape, a global business built on a strong foundation of heritage and values, will take Simpson Motors and ITC into the future.
Inchcape, the leading global automotive distributor, has completed the acquisition of the ITC Group, owner of Interamericana Trading Corporation (ITC) and Simpson Motors from the Simpson Group.
The acquisition expands Inchcape's global footprint w