Inchcape acquires controlling stake in luxury car distributor CATS Group

MANILA: CATS Group of Companies, the official distributor of Mercedes-Benz, Chrysler, Jeep, Dodge, Ram, and Jaguar Land Rover in the Philippines, entered into a joint venture with British multi-brand global automotive distributor Inchcape.

Inchcape has acquired 60% of CATS, while the remaining 40% is retained to the Group’s founder, the Ang family.

The joint venture agreement was officially announced at a press conference held at Mercedes-Benz BGC Showroom in Taguig City on Wednesday, January 18.

CATS Group of Companies was established by Felix Ang in 1989 as a one-stop luxury car center in the Philippines. Its core mission is to fulfill its customers’ aspirations to purchase their dream cars.

CATS has been a distributor of Mercedes-Benz, Chrysler, Jeep, Dodge, and Ram since 2004, and Jaguar and Land Rover since 2017. It also supervises dealerships for Mazda and Harley-Davidson.

The joint venture with Inchcape aims to make CATS the leader in digital and data and electric vehicle expertise in the Philippines where car sales are anticipated to rise to 500,000 by 2026.

It is also a part of Inchcape’s “Accelerate Strategy” which aims to expand the company’s global presence, especially in Asia and other underpenetrated markets, while becoming the employer of choice for current and future employees.

“We are very pleased to be entering the new and strategically important market of the Philippines through the acquisition of a controlling stake in CATS’ Philippine operations. As the leading luxury vehicle distributor in the market, CATS has excellent relationships, and we look forward to working with them and the Ang family to drive the business forward,” Inchcape Asia-Pacific Chief Executive Officer Ruslan Kinebas stated.

The deal will close within the second half of 2023. CATS will still be represented on the Board by Ang.

“After over 30 successful years of operating independently, we believe the time is now right for CATS to take the next step in our growth journey and in Inchcape, we have found the right partner to drive us forward,” Ang said. “The Philippines is a fast-growing market with an increasing demand for the luxury vehicles we provide, and we look forward to leveraging Inchcape’s leadership in digital and data to further build our distinctive market position through the provision of best-in-class customer service.”

Photos by Hazel Nicole Carreon

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