DGAP-News: HELLA GmbH & Co. KGaA: Mekonomen acquires wholesale activities from HELLA

Mekonomen acquires wholesale activities from HELLA

- Swedish wholesaler takes over Danish and Polish wholesale companies

- HELLA focuses the Aftermarket segment on the independent spare parts business and workshop equipment

Lippstadt/Germany, July 06, 2018. HELLA GmbH & Co. KGaA, one of the world's leading automotive suppliers for lighting and electronics, is selling its Danish and Polish wholesale companies, FTZ Autodele & Verktoj A/S ("FTZ") and Inter-Team sp. z o.o. ("Inter-Team"), to the Swedish wholesaler, Mekonomen AB. A corresponding agreement has been signed by both companies. The purchase price amounts to EUR 395 million on a cash- and debt-free basis. In addition, a consideration equivalent to profits generated from November 30, 2017 to completion of the transaction will be paid to HELLA. The sale is subject to approval by the relevant antitrust authorities and is expected to close in the 3^rd quarter 2018.

"With Mekonomen, a renowned wholesaler will take over our activities in Denmark and Poland, which will strategically develop the business," explains Dr Werner Benade, HELLA Managing Director responsible for the Aftermarket and Special Applications segment. "We will systematically focus the Aftermarket segment on the independent spare parts business and innovative workshop equipment. As part of this, we are accelerating the interaction between the divisions and opening up digital business models."

Pehr Oscarson, President and CEO of Mekonomen, adds: "Through the acquisition of FTZ and Inter-Team, we strengthen our position as a leading automotive spare-parts distributor in the Nordic region and take the step into Europe. The acquisition is in line with our strategy of playing a central role in the ongoing consolidation in Europe. These are two well-run companies that will continue to develop within the framework of existing corporate structures and brands as standalone companies in the Group."

FTZ and Inter-Team employ a total of around 2,500 people. The two wholesalers achieved total sales of around EUR 480 million in the 2016/2017 financial year. This corresponds to about 7 percent of HELLA's group consolidated sales.

The transaction is conducted with the assistance of Jefferies Financial Group (Financial Advisor), Freshfields Bruckhaus Deringer (Legal Advisor), Ebner Stolz (Financial & Tax Due Diligence) and Roland Berger (Commercial Due Diligence).

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HELLA GmbH & Co. KGaA, Lippstadt: HELLA is a global, family-owned company, listed on the stock exchange, with more than 40,000 employees at over 125 locations in some 35 countries. The HELLA Group develops and manufactures products for lighting technology and electronics for the automotive industry and also has one of the largest retail organizations for automotive parts, accessories, diagnostics, and services within Europe. With nearly 7,000 people working in research and development, HELLA is one of the most important innovation drivers on the market. Furthermore, with sales of 6.6 billion euros in the fiscal year of 2016/2017, the HELLA Group is one of the top 40 automotive parts suppliers in the world and one of the 100 largest German industrial companies.

For additional information please contact:
Dr. Markus Richter
Company spokesman
HELLA GmbH & Co. KGaA
Rixbecker Strasse 75
59552 Lippstadt
Germany
Phone: +49 (0)2941 38-7545
Fax: +49 (0)2941 38-477545
Markus.Richter@hella.com
www.hella.com