MANILA: CATS Group of Firms, the official distributor of Mercedes-Benz, Chrysler, Jeep, Dodge, Ram, and Jaguar Land Rover within the Philippines, entered right into a three way partnership with British multi-brand international automotive distributor Inchcape.
What are the manufacturers distributed by CATS Group of Firms?
CATS Group of Firms is the official distributor of Mercedes-Benz, Chrysler, Jeep, Dodge, Ram, and Jaguar Land Rover within the Philippines.
How a lot share was acquired by Inchcape?
Inchcape has acquired 60% of CATS Group, whereas the remaining 40% is retained to the Group’s founder, the Ang household.
Inchcape has acquired 60% of CATS, whereas the remaining 40% is retained to the Group’s founder, the Ang household.
The three way partnership settlement was formally introduced at a press convention held at Mercedes-Benz BGC Showroom in Taguig Metropolis on Wednesday, January 18.
CATS Group of Firms was established by Felix Ang in 1989 as a one-stop luxurious automotive middle within the Philippines. Its core mission is to meet its prospects’ aspirations to buy their dream vehicles.
CATS has been a distributor of Mercedes-Benz, Chrysler, Jeep, Dodge, and Ram since 2004, and Jaguar and Land Rover since 2017. It additionally supervises dealerships for Mazda and Harley-Davidson.
The three way partnership with Inchcape goals to make CATS the chief in digital and information and electrical car experience within the Philippines the place automotive gross sales are anticipated to rise to 500,000 by 2026.
It’s also part of Inchcape’s “Speed up Technique” which goals to develop the corporate’s international presence, particularly in Asia and different underpenetrated markets, whereas changing into the employer of alternative for present and future staff.
“We’re very happy to be getting into the brand new and strategically vital market of the Philippines by way of the acquisition of a controlling stake in CATS’ Philippine operations. Because the main luxurious car distributor out there, CATS has glorious relationships, and we stay up for working with them and the Ang household to drive the enterprise ahead,” Inchcape Asia-Pacific Chief Government Officer Ruslan Kinebas acknowledged.
The deal will shut throughout the second half of 2023. CATS will nonetheless be represented on the Board by Ang.
“After over 30 profitable years of working independently, we imagine the time is now proper for CATS to take the subsequent step in our progress journey and in Inchcape, we’ve discovered the correct accomplice to drive us ahead,” Ang mentioned. “The Philippines is a fast-growing market with an growing demand for the posh autos we offer, and we stay up for leveraging Inchcape’s management in digital and information to additional construct our distinctive market place by way of the supply of best-in-class customer support.”
Pictures by Hazel Nicole Carreon
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