Livingstone advises car dealership group Hugo Pfohe on its sale to Van Mossel Automotive Group
Livingstone has advised German car dealership group Hugo Pfohe GmbH on its sale to Van Mossel Automotive Group, the largest car dealer in the Benelux. The addition of the family-owned business, which operates in northern Germany with seven brands and a volume of approximately 10,000 vehicles annually, heralds Van Mossel’s European growth.
Hugo Pfohe was founded in 1919 and is one of the largest dealership groups in the North German region and Hamburg, with nine locations in three German states, a turnover of 300 million euros and 700 employees. Hugo Pfohe has a portfolio of seven brands focusing on cars and commercial vehicles. The company serves a wide range of customers and focuses on premium brands such as Jaguar, Land Rover, BMW and Mini, in addition to Ford, Kia and Mazda. Hugo Pfohe is headquartered in Hamburg, one of Germany’s most important regions.
In the Benelux, the family-owned company Van Mossel has become the largest automotive retailer in recent years, with a focus on customer satisfaction and over 349 branches in the Netherlands, Belgium, Luxembourg as well as France, and Germany. More than 5,200 employees are passionately at work for the Group and generate annual sales of around 4.5 billion euros. The acquisition reflects the Group’s European growth ambitions. The transaction has been filed with the German regulatory authority and is expected to be completed by mid-June.
“Adding Hugo Pfohe to our portfolio fits our European growth strategy perfectly,” explains Eric Berkhof, CEO of Van Mossel Automotive Group. “Hugo Pfohe is strategically located in Germany, and our existing Düsseldorf leasing companies are a perfect complement to this. We look forward to serving our new customers in Germany with strong brands and a comprehensive range of services.”
“Hugo Pfohe is – like Van Mossel – an established family business. After careful consideration, we are convinced that Van Mossel is the best choice to realize Hugo Pfohe’s further development and growth. Given their proven track record and position among Europe’s top 10 car dealerships, Van Mossel is the right partner for us at the right time. We hand over our customers and employees with full confidence. Personally, I am looking forward to accompanying the positive development as managing director of Hugo Pfohe GmbH for a certain period of time”, says Philip Pfohe, Managing Director and sole shareholder of Hugo Pfohe.
“Hugo Pfohe has been family owned for 104 years. It was a very emotional but right decision to integrate our company into a large European car dealer group. Vital for the positive course of the transaction were Mr. Grandin and his team at Livingstone. Trust, competence, precise and prompt execution, and exceptional negotiation skills were always remarkable. It was a pleasure to work together with the Livingstone team towards a very successful transaction.”
Philip Pfohe, Managing Director and sole shareholder of Hugo Pfohe
Christian Grandin, Partner at Livingstone in Düsseldorf, says: “We are pleased to have found in Van Mossel the perfect partner for long-established Hugo Pfohe, who will be able to accompany the well-positioned company on its growth path. The important goal for our client of handing over the company and the workforce into safe hands was achieved as planned, thus bringing one of the larger transactions in the automotive trade to a close.”
