GWM SA announces Super Group investment
GWM South Africa has announced that listed company Super Group, a leading transport logistics and mobility group, has acquired a 50,1 percent stake in its business. This marks the start of exciting business opportunities for both companies.
According to GWM, following its launch in South Africa seven years ago, the company has successfully grown its brand among motorists who value vehicles that are affordable, without compromising quality or technological advancement.
“The investment from Super Group into the GWM business further cements our presence in the South African auto industry. We look forward to harnessing all the synergies and opportunities brought forth by our alliance with this reputable group,” says GWM South Africa chairman, Tony Pinfold.
Today, GWM South Africa has a national dealer network of 75 dealers, over 50 000 GWM vehicles on the country’s roads and a parts distribution warehouse with stock worth more than R160 million.
Peter Mountford, CEO of Super Group, says the acquisition of a 50,1 percent stake in GWM South Africa definitely fits the profile of a sound and complementary business investment. “GWM has proved to be a brand that is going places – both globally and in South Africa.
“Super Group has a wide range of expertise in the supply chain and logistics arena, as well as in parts distribution, dealerships and the fleet management business – all which will significantly benefit GWM in the future. We are very excited about the prospects of this new association,” he adds.
GWM says the acquisition will not affect the day-to-day running of its operations.