Eagers agrees to 50% Zagame stake in luxury vehicle joint venture
Eagers Automotive has agreed to buy a 50% interest in luxury retailer Zagame Automotive Group in a non-binding joint venture deal.
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Eagers moves into Zagame joint venture
Eagers Automotive has agreed to acquire a 50% interest in Zagame Automotive Group in a non-binding deal that would see the two businesses operate as a joint venture. Zagame is a Melbourne-based luxury vehicle retailer, and the arrangement is with founder and chief executive Bobby Zagame. The business specialises in sports, luxury and performance vehicles and represents brands across Melbourne and Adelaide. 124
GoAuto reported the agreement this week would bring Eagers into a joint venture with Bobby Zagame, while Alliance News said the transaction is subject to customary conditions. Those conditions include OEM consent, finance approval, regulatory approval and landlord consents, with a target completion date at the end of November 2026. 1512
Zagame’s scale and brand mix
Zagame Automotive Group delivered annual revenue of around $600 million in the financial year ended June 30, according to Alliance News, while the AFR reported the group makes few sales but generated $600 million in revenue last year. The business represents 14 brands in Australia and has centres in Melbourne and Adelaide. GoAuto said the group is also the exclusive Australian and New Zealand distributor for Pagani Automobili and Singer Vehicle Design. 41215
The AFR reported Zagame has 20 dealerships in Melbourne and Adelaide and rights to sell high-end brands including Bentley, Lamborghini and Aston Martin. GoAuto said Eagers has bought into exclusive distribution of Pagani and Singer Design for Australia and New Zealand through the purchase. 415
Sources
How we research and correct our articles
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