Inchcape Buys Volvo and Jaguar Land Rover Businesses in Peru and Costa Rica

Inchcape (LON: INCH), the car distributor, has agreed to buy Volvo businesses in Peru and Costa Rica and a Jaguar Land Rover business in Peru from Automotores Gildemeister. The company announced the deal at 7am today, before the market opened, and its shares were little changed in early trading.

The shares were quoted at 748.5p at 9.01am, up 0.07% on yesterday’s close of 748p, after opening at 735p. That is well below the 849.5p close of the 4th of September. The announcement had no clear effect on the price in early trading.

The acquired operations cover Volvo in both Peru and Costa Rica, and Jaguar Land Rover in Peru only. Between them they run five sites, three in Peru and two in Costa Rica, and employ about 90 people.

Inchcape said the businesses had combined revenue of about £48.7m, or $64m, in the 2025 financial year. Completion is expected in the first quarter of 2027, subject to customary conditions and approvals. Inchcape did not disclose what it is paying, so the deal’s value relative to that revenue cannot be judged.

Chief executive Duncan Tait tied the purchase to the group’s Accelerate+ strategy, and to two recent acquisitions in Bulgaria and Iceland.

As we continue to scale Inchcape’s global presence, with an ongoing focus on value-accretive M&A and two recent acquisitions in Bulgaria and Iceland, these additional acquisitions in Peru and Costa Rica represent a further example of Inchcape’s Accelerate+ strategy and disciplined approach to capital allocation in action.

Duncan Tait, chief executive, Inchcape

Inchcape already works with both brands. It works with Volvo in Chile and Ecuador, and Jaguar Land Rover in Chile, Colombia and across Asia-Pacific, Europe and Africa. The Bulgarian deal was for Silver Star Motors.

Inchcape is a global independent distributor that handles import, logistics, marketing and retail for car makers in smaller, harder-to-reach markets. The purchase carries no disclosed price.