Holand Automotive Expands into Europe with Forza Rossa Acquisition
Deal News | Jan 20, 2025 | PR Newswire Cision Holand Automotive Group
Holand Automotive Group, a major player in the luxury automotive dealership industry, has announced its expansion into Europe through the acquisition of Forza Rossa, the sole Ferrari dealership in Romania. With its main operations centered in Montreal, Holand Automotive already owns prestigious franchises such as Ferrari Quebec and Rolls-Royce Motor Cars Quebec, and this acquisition marks its first foray into the European market. The decision is part of Holand's strategy to bolster its global presence and capitalize on the growing demand for luxury vehicles in emerging markets. Led by CEO Gad Bitton, the group emphasizes Romania's strategic geographical location and increasing affluence as key factors in the acquisition. This strategic movement reflects Holand Automotive’s ambition to push forward the luxury automotive market while enhancing the customer experience. The inclusion of Ferrari Bucharest highlights Holand’s commitment to maintaining its legacy of excellence and expanding its reach in the ultra-luxury automotive sector.
Sectors
- Luxury Automotive
- Automotive Dealerships
Geography
- Canada – Holand Automotive Group is based in Montreal, Canada, and operates several luxury automotive franchises within the country.
- Romania – The acquisition involves Forza Rossa, the only Ferrari dealership in Romania, marking Holand Automotive Group’s entry into the European market.
- United States – Holand Automotive Group operates luxury car dealerships in the United States, including Ferrari of South Bay and Ferrari of Rancho Mirage.
Industry
- Luxury Automotive – This industry classification is relevant because Holand Automotive Group, a luxury car dealership owner, is expanding its operations into the European market with the acquisition of a Ferrari dealership.
- Automotive Dealerships – The article discusses Holand Automotive Group's acquisition of Ferrari Bucharest, focusing on dealership expansion in luxury automobile brands.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Holand Automotive Group | Bidding Company | Company | A Montreal-based luxury car dealership owner expanding its operations into Europe with the acquisition of a Romanian Ferrari dealership. |
| Forza Rossa | Target Company | Company | The only Ferrari dealership in Romania acquired by Holand Automotive Group. |
| Gad Bitton | Person | Person | President and CEO of Holand Automotive Group, leading the company's expansion into the European market. |
| Bogdan Jambori | General Manager | Person | General Manager of Ferrari Bucharest, facilitating operations in the Romanian market after the acquisition. |
| Rocco Franze | Financial Controller, Senior Sales Assistant | Person | Personnel involved with Ferrari Quebec, likely engaged in financial and sales roles within the organization. |