Holand Automotive Group Expands to Europe with Romanian Ferrari Acquisition
Deal News | Jan 20, 2025 | PR Newswire Cision Holand Automotive Group
Holand Automotive Group, a distinguished name in luxury automotive retail, has announced the acquisition of Romania's only Ferrari dealership, Forza Rossa, thereby expanding its presence into the European market for the first time. The dealership, soon to be renamed Ferrari of Bucharest, aligns with Holand's strategy to broaden its global reach and capitalize on the burgeoning wealth and strategic location of Romania, offering access to nearby European markets. Under the leadership of President and CEO Gad Bitton, Holand aims to transplant its expertise in delivering premium automotive experiences to customers in Bucharest, thus enhancing the luxury automotive landscape in the region. From its base in Montreal, Holand Automotive has cultivated a diverse portfolio of high-end franchises in Canada and the United States, including Ferrari Quebec, Ferrari of South Bay, and Ferrari of Rancho Mirage, among others. The acquisition of the Bucharest dealership marks a significant milestone, reinforcing Holand's ambition to become a global leader in the luxury automotive sector. The company's operational expansion is in line with its mission to perpetuate its legacy of luxury and excellence in new markets. For further details, the contact points in Europe and North America have been provided for inquiries.
Sectors
- Automotive Retail
- Luxury Goods
Geography
- Canada – Holand Automotive Group is headquartered in Montreal, Canada, and this expansion marks its first venture into Europe from its Canadian base.
- Romania – The acquisition involves Romania's only Ferrari dealership, marking it as a key geographical focus in the article.
- United States – Holand Automotive has Ferrari dealership operations in California, showcasing its existing footprint in the United States.
- Europe – The article highlights Holand Automotive Group's entry into the European market with its acquisition in Romania.
Industry
- Automotive Retail – The article discusses Holand Automotive Group's expansion within the luxury automotive retail sector, emphasizing its strategic acquisition of a Ferrari dealership.
- Luxury Goods – This classification is relevant due to the focus on high-end luxury automotive brands like Ferrari, indicating involvement in the luxury goods market.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Holand Automotive Group | Buyer | Company | A leader in luxury automotive retail, expanding its presence globally through strategic acquisitions. |
| Forza Rossa | Target | Company | Romania's sole Ferrari dealership, acquired by Holand Automotive Group. |
| Gad Bitton | Person - CEO | Person | President and CEO of Holand Automotive Group, overseeing the acquisition and expansion strategy. |
| Bogdan Jambori | General Manager | Person | General Manager at Ferrari of Bucharest, responsible for handling European operations post-acquisition. |
| Rocco Franze | Finance Controller/Senior Sales Assistant | Person | Finance Controller and Senior Sales Assistant at Ferrari Quebec, involved in North American operations. |