Volkswagen Group Takes Over Polish Distribution
Executive Summary
The German auto maker is buying out both a joint venture that operates nine dealerships in Poland and the JV’s stake in imports and distribution of Skoda, the country’s sales leader.
VIENNA – Volkswagen Group will take over distribution of VW, Audi and Porsche brands in Poland starting Jan. 1.
The German auto maker will buy 100% of shares of Kulczyk Pon Investment (KPI), a joint venture owned 50.1% by the Polish company Kulczyk Investments and 49.9% by Dutch VW importer Pon Holdings.
KPI’s sister company Kulczyk Tradex is Poland’s VW, Audi and Porsche importer.
The JV also owns minority stakes in Volkswagen Bank Polska and Volkswagen Leasing Polska.
VW subsidiary Porsche Holding will take control of KPI Retail, which operates nine dealerships in Poland.
In addition, VW will buy Kulczyk Investments’ 48.9% share in Polish Skoda importer Skoda Auto Polska.
The remaining 51.01% already belongs to VW’s Czech subsidiary Skoda Auto.
VW may pay about E160 million ($216 million) for the shares, the Polish daily Rzeczpospolita reports.
Skoda is Poland’s sales leader, followed by Ford and Opel. Its 25,966 deliveries through October amounted to an 11.6% market share. The VW brand sold 15,395 cars for a 6.9% share and the No.4 sales position.
