Autosports Group is making a strategic leap into South Australia by acquiring Solitaire Automotive Group, a luxury dealership powerhouse representing 10 premium brands. This $50 million deal is set to reshape the region’s luxury automotive retail landscape.
- Acquisition of Solitaire Automotive Group for approximately $50 million
- Entry into South Australian market with 15 dealerships and 10 luxury brands
- Deal structured with $25 million cash and $25 million in Autosports Group shares
- Solitaire Automotive Group generates around $300 million in annual revenue
- Completion expected in April 2026, pending regulatory and manufacturer approvals
Strategic Expansion into South Australia
Autosports Group Limited (ASX: ASG) has announced a significant acquisition that marks its entry into the South Australian luxury automotive market. The company has agreed to acquire Solitaire Automotive Group, a family-owned dealership network with a heritage spanning over 50 years in Adelaide. This move adds 15 new vehicle and motorcycle dealerships to Autosports Group’s portfolio, representing 10 prestigious brands including Aston Martin, Jaguar Land Rover, Audi, and Volvo Cars.
The acquisition is valued at approximately $50 million for goodwill, supplemented by around $1 million for tangible assets. The payment is split evenly between cash and shares, with $25 million paid in cash and $25 million in newly issued Autosports Group shares priced at $3.46 each. This structure not only preserves cash flow but also aligns the interests of Solitaire’s existing owners with Autosports Group’s future growth.
A Unique Market Position
Solitaire Automotive Group holds a unique position as South Australia’s sole retailer for several luxury brands, including Cupra, Polestar, Zeekr, and Ducati. With an estimated $300 million in revenue based on unaudited FY25 management accounts, the group brings substantial scale and a loyal customer base. Autosports Group’s CEO, Nick Pagent, highlighted the strategic fit, noting the acquisition’s immediate accretive potential and the strong growth prospects it offers.
Importantly, this acquisition diversifies Autosports Group’s geographic footprint, which currently spans major metropolitan markets such as Sydney, Melbourne, Brisbane, and Auckland. The addition of South Australia strengthens the company’s national presence and enhances its portfolio of luxury and prestige automotive brands.
Looking Ahead: Integration and Approvals
The deal is expected to complete in April 2026, subject to regulatory approvals from the Australian Competition and Consumer Commission (ACCC) and consent from the relevant motor vehicle manufacturers. These conditions are standard for transactions of this scale and sector, ensuring competitive balance and manufacturer support remain intact.
Autosports Group’s management has expressed gratitude to the Smoker and Holst families, the long-time owners of Solitaire Automotive Group, for their goodwill and cooperation throughout the transaction. The integration of Solitaire’s operations will be closely watched by industry observers, as it may set the tone for further consolidation in the luxury automotive retail sector.
Bottom Line?
Autosports Group’s bold acquisition signals a new chapter in luxury automotive retail, with South Australia now firmly on its expansion map.
Questions in the middle?
- How will Autosports Group integrate Solitaire’s diverse brand portfolio without disrupting existing operations?
- What impact will this acquisition have on competitive dynamics among luxury car dealerships in South Australia?
- Could this deal pave the way for further acquisitions or partnerships in other untapped regional markets?