Derco Acquisition Completion

Inchcape is delighted to announce that the Group has completed its acquisition of Derco in Inchcape’s biggest such deal since 1967.

The combination of our two businesses has created the number one independent distributor in the Americas bringing together two companies with complementary portfolios of OEM partners and aligned cultures.

The Group also extends a very warm welcome to our new colleagues who have formally joined Inchcape today.

With Romeo Lacerda leading as CEO Inchcape Americas, the focus now is on integrating our businesses to the benefit of all our stakeholders – OEMs, customers, employees and shareholders.

Duncan Tait, Group Chief Executive, Inchcape, said:

“When we launched our Accelerate strategy in November 2021 we set an ambition to extend our global leadership in automotive distribution, and to become the undisputed number one choice for OEMs. The completion of the transformational acquisition of Derco is an important step in our ambitious growth journey.

The combination brings together two best-in-class operators in highly attractive and fast growth markets within Latin America, and significantly expands our OEM brand portfolio. The enlarged business will provide exciting opportunities for our colleagues, OEM partners, dealers and consumers. We will also leverage Inchcape’s leading digital and data capabilities, to grow the distributon business and capture a greater share of the vehicle lifecycle value.”

Juan Pablo Del Río, Inchcape Non Executive Director elect, said:

“Inchcape and Derco are highly complementary businesses, enjoying a strong strategic and cultural fit. The combined strengths of both companies, including Inchcape’s undisputed leadership in digital and data, will provide exciting opportunities for colleagues across the enlarged business.

I am looking forward to working with Nigel and the Board, to support Duncan and the executive team to drive the next phase of Inchcape’s exciting growth strategy.”