Global Auto to acquire K.W. Bruun Import and K.W. Bruun NxT for $1.2bn.

Global Auto, a diversified auto retailer, agreed to acquire K.W. Bruun Import and K.W. Bruun NxT, two automotive distributors in the Nordics with operations focused across Denmark and Sweden, for $1.2bn. "The acquisition represents a clear strategic fit for GAHL and is highly complimentary based on GAHL's stated strategic objectives of driving operational excellence, pursuing diversification across multiple dimensions and allocating capital with a focus on strong free cash flow while maintaining a strong balance sheet and credit metrics. KWB's business is asset lite, highly free cash flow generative and expands our business into an attractive component of the auto retail value chain while creating a better diversified, higher margin and enhanced free cash flow generative combined business. Following the successful completion of the Lookers acquisition along with a dedicated UK leadership team driving solid operational results within that platform, we believe the timing is right to pursue this highly accretive and attractive acquisition," GAHL.