Autosports Group has agreed to acquire Mercedes-Benz Parramatta, Mercedes-Benz Castle Hill and Chery Castle Hill from Grand Motors Group. The deal would extend its luxury dealership footprint across Western Sydney and the Hills District, but still requires ACCC approval and other conditions before targeted completion in February 2027.
- Agreement to acquire three NSW dealerships from Grand Motors Group
- Two Mercedes-Benz sites and one Chery dealership included
- Strategic focus on Western Sydney and the Hills District
- Completion targeted for February 2027, subject to conditions including ACCC approval
- Purchase price and expected financial contribution not disclosed
Three Sydney Dealerships Added to Acquisition Pipeline
Autosports Group Limited (ASX:ASG) has agreed to acquire three dealerships in NSW, giving the luxury automotive retailer another sizeable addition to its metropolitan network. The transaction covers Mercedes-Benz Parramatta, Mercedes-Benz Castle Hill and Chery Castle Hill, which will be held through the company’s wholly owned subsidiary New Centenary.
The proposed deal would deepen Autosports Group’s presence in two important Sydney catchments: Western Sydney and the Hills District. It also adds another two Mercedes-Benz operations to the group’s portfolio, alongside the Chery Castle Hill dealership.
Mercedes-Benz Relationship and Regulatory Conditions
Chief executive Nick Pagent said the acquisition would “deepen our collaboration with Mercedes-Benz”, expand the group’s customer base and support its luxury-brand growth strategy. The announcement also refers to the sites as flagship locations, although it does not provide dealership-level sales, earnings or operational data.
Completion is targeted for February 2027 and remains conditional, including on approval from the Australian Competition and Consumer Commission. The filing does not disclose the purchase price, funding arrangements or the expected financial contribution from the dealerships, leaving the economic scale of the transaction unresolved for now.
The announcement arrives as Autosports Group continues to pursue expansion through acquisitions, but the next material markers are more specific: whether the transaction clears its conditions, when ownership transfers, and what financial detail the company ultimately provides on the three businesses. Until then, the strategic rationale is clear while the balance-sheet impact is not.
Bottom Line?
The acquisition broadens Autosports Group’s Sydney luxury footprint, but its investment significance will depend on the undisclosed price, funding and earnings contribution.
Questions in the middle?
- What purchase price and funding structure will Autosports Group disclose for the three dealerships?
- Will the ACCC or other conditions delay the targeted February 2027 completion?
- How much revenue and profit will the acquired Mercedes-Benz and Chery operations contribute after completion?