Iveco Group and Hedin Mobility Group announce a pivotal Share Purchase Agreement, advancing their March 2023 Letter of Intent. This agreement sees Hedin Mobility Group taking over Iveco Group’s distribution and retail operations across Sweden, Norway, Finland, and Denmark. Pending regulatory approval, this transaction is set for completion by the first half of 2024.
The partnership cements Hedin Mobility Group’s role as a premier European mobility provider and broadens IVECO’s Nordic distribution network. The deal transfers marketing and distribution responsibilities for IVECO light commercial vehicles, medium- and heavy-duty trucks, and minibuses, including spare parts. It also entails acquiring the retail business at IVECO-owned dealerships in major cities across these countries.
Iveco Group, renowned for its commercial vehicle product range, currently operates through a network of 35 retailers and over 100 workshops across the Nordic countries. This partnership promises to extend the reach and efficiency of their operations even further.
Gerrit Marx, CEO of Iveco Group, highlighted the partnership’s significance: “Finalizing this key partnership with Hedin Mobility Group immediately after the launch of our new full range is a sign of our commitment to growth and sustainability. This collaboration will enhance our presence in the Nordic market, leveraging Hedin’s established network to deliver our innovative, efficient, and environmentally friendly vehicles to more customers.”
Anders Hedin, founder and CEO of Hedin Mobility Group, shared his perspective: “This strategic partnership with Iveco Group significantly strengthens our value proposition and position as a leading European mobility provider, expanding our business both in distribution and retail. We share a determination to drive change and deliver products and services that benefit both end-users and society at large. Building on the renewed IVECO offering, we are excited to start our collaboration, enhance the brand’s Nordic market presence, and create value for existing and new customers.”
This partnership symbolizes a strategic step for both entities, blending growth aspirations, sustainability goals, and a commitment to superior service in the European mobility landscape.
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