New Zealand’s Gough Group sold
Malaysian-based Sime Darby Berhad acquires New Zealand’s Gough Group
Sime Darby (NZ) Holdings Limited has entered into a conditional sale and purchase agreement with privately-owned Gough Holdings Limited to acquire Gough Group Limited.
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Gough’s New Zealand Caterpillar dealership spanning 90 years is one of the oldest dealerships of Caterpillar equipment outside of the US.
Separately, Gough Group’s transport and materials handling businesses distribute a range of brands such as SAF, Palfinger, and WABCO in New Zealand and Australia.
The combined businesses currently employ approximately 950 people across a network of more than 50 locations in Australia and New Zealand.
"The Gough Group’s transport and material handling portfolio will complement Sime Darby Motors’ commercial truck business in New Zealand, enable growth in aftersales operations and broaden our suite of franchises, essentially strengthening our position in Australasia," Sime Darby Berhad’s group chief executive officer Dato’ Jeffri Salim Davidson says.
The parent business, Malaysian-based Sime Darby Berhad, is excited about investing in the next stage of growth to build on Gough Group’s leadership position in the New Zealand and Australian markets.
In Australia, Sime Darby Berhad is represented by Hastings Deering, one of Caterpillar’s leading dealers, as well as through Sime Darby Motors’ dealerships for BMW, Volvo, Ferrari, and Rolls Royce in Brisbane and Porsche in Sydney.
In New Zealand, Sime Darby Motors operates under the Continental Cars and City Nissan dealerships in Auckland representing brands such as BMW, Porsche, Volkswagen, Audi, Ferrari, and Nissan. It also has a Commercial Transport arm representing brands such as Volvo, Hino, Mack, and UD Trucks.
The deal is expected to be completed by 30 September 2019.
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