British automotive company Inchcape Plc. is acquiring a 60-percent controlling stake in CATS Group of Companies, a leading distributor of luxury vehicles in the Philippines.
Inchcape, the leading global automotive distributor, formed a joint venture with CATS Group which includes the acquisition by Inchcape of a controlling 60-percent stake, with the remaining 40 percent held by the CATS’ founding Ang family.
Inchcape Philippines, the joint venture, combines Inchcape and CATS’ commercial resources, advanced digital capabilities, global insights and local market knowledge with the goal to power better mobility in the Philippines.
The expansion into the Philippines further builds on Inchcape’s well-established presence in the Asia-Pacific region of over 10 markets.
“We are very excited to officially announce our entry into the Philippine market. This deal is a highlight of our ambition to be the undisputed distribution partner for mobility companies. With a shared ambition for innovation to drive better operational performance and to deliver an exceptional customer experience, we look forward to powering better mobility for the Philippine automotive market,” said Alex Hammett, managing director of South Asia & Pacific who will assume responsibility for Inchape Philippines.