Belgium's Louyet Group is set to take over the operations of Arnold Kontz Group of Luxembourg from September, several newspapers in the Grand Duchy reported on Wednesday.
Established in 1959, the Louyet enterprise is a significant player in the Belgian car distribution market, especially known for BMW. A decade ago, it operated from a single dealership in Charleroi, which has since expanded to 27 branches across Hainaut, Flemish Brabant, Walloon Brabant and Brussels.
The company’s rise also saw it become the Belgian importer of well-renowned makes such as Rolls-Royce and McLaren in recent years.
On the other hand, Arnold Kontz Group has been dealing in British cars such as Jaguar, Land Rover, Aston Martin and Lotus since ceasing its BMW business in 2015.
The acquisition will enable the Louyet Group to gain a foothold in the Luxembourg market.
The takeover is expected to become effective from 30th September and all employees are expected to be retained.
