Autonet Group Holding (AGH), part of the Swiss Automotive Group, have reached an agreement to take over the majority stake (51%) in the Romanian car parts distributor Augsburg International (AI), Economica.net reported.

The Romanian distribution firm was founded 25 years ago by local entrepreneurs Marius Constantinoiu and Gina Iordache.

Following the completion of the transaction, Autonet Group Holding (AGH) will have a 51% stake in Augsburg International, while the current shareholders of AI will hold 49% of the shares.

Augsburg International achieved in 2020 a turnover of RON 566.8 mln (EUR 117.6 mln), a net profit of over RON 7.8 mln (EUR 1.6 mln). It employed on average 473. The company deals with the import and wholesale distribution of spare parts, mechanics and bodywork, service equipment, fleet management services for cars and commercial vehicles.

AI has a central warehouse of over 20,000 square meters and 36 regional warehouses. The company's headquarters are in Bucharest.

(Photo: Natalya Hora/ Dreamstime)

andrei@romania-insider.com