Inchcape plc (LON:INCH), the leading independent global automotive Distributor, has announced that it has agreed to acquire a Volvo business in Peru and Costa Rica, and a Jaguar Land Rover business in Peru, both from Automotores Gildemeister.
Upon completion, the bolt-on acquisitions will expand the range of mobility solutions Inchcape offers customers in these markets, including enhancing its New Energy Vehicle (NEV) range, while creating value for OEM partners through deep local insights and a proven ability to deliver sustainable growth.
Both markets offer ongoing growth opportunities and support Inchcape’s continued expansion in the region, with Peru reaching a record total industry volume of 187,000* in 2025 and Costa Rica achieving just under 69,000* units.
Following on from last year’s acquisition in Iceland and, most recently, Silver Star Motors in Bulgaria, these acquisitions in the Americas represent a multi-market, multi-brand investment that reflect the Group’s Accelerate+ strategy and its disciplined capital allocation approach focused on long-term shareholder returns.
These acquisitions will further strengthen Inchcape’s relationships with existing OEM partners. Alongside the Group’s long-standing partnership with Jaguar Land Rover across Chile, Colombia and multiple markets in Asia-Pacific and Europe & Africa, the deal also builds on its existing relationship with Volvo in Chile and Ecuador.
Duncan Tait, Inchcape Group Chief Executive, commented:
“As we continue to scale Inchcape’s global presence, with an ongoing focus on value-accretive M&A and two recent acquisitions in Bulgaria and Iceland, these additional acquisitions in Peru and Costa Rica represent a further example of Inchcape’s Accelerate+ strategy and disciplined approach to capital allocation in action.“Drawing on our deep knowledge of local markets and our proven ability to deliver sustainable growth, these acquisitions will expand our footprint in the Americas, grow the range of vehicles we offer customers and further strengthen our relationships with OEM partners, while creating value for our stakeholders.”
Marcello Marchese, Chief Executive Officer of Automotores Gildemeister, commented:
“We are proud of the businesses and teams we have developed around Volvo in Peru and Costa Rica and JLR in Peru. We are confident they will continue to be successful as part of Inchcape’s global business, and we will work closely with Inchcape to support a smooth transition for colleagues, customers, OEM partners and other stakeholders.“This agreement reflects our strategy to optimise our portfolio and focus investment on the core segments where we can create the greatest value, strengthening our performance and long-term position.”
The businesses being acquired generated revenue of c.£48.7 million ($64 million USD) in FY2025, employing c.90 colleagues. The acquisitions will include three aligned retail locations in Peru and two in Costa Rica.
The transactions are expected to complete during Q1 2027, subject to customary conditions and approvals. The Group will provide further updates when appropriate.
* Figures rounded to nearest thousand
