VELOCITY TRUCK CENTRES COMPLETES ACQUISITION OF EAGERS AUTOMOTIVE DAIMLER TRUCK BUSINESS

Velocity Vehicle Group (VVG) is pleased to announce the completion of the previously announced transaction to acquire Eager Automotive Limited’s (AX: APE) Daimler truck business. As of today, Velocity Vehicle Group will take-over all Daimler Truck and Bus sales and service dealerships operated by the Eagers Automotive group across Australia. This business employs approximately 650 people at metropolitan and regional locations across Australia, including Brisbane, Newcastle, Sydney, Melbourne, Adelaide and Perth.

Velocity Vehicle Group is one of the largest Daimler Trucks dealership networks in the United States, serving customer across more than 30 dealership locations in major US markets.

Just like its US operation, Velocity Vehicle Group’s Australian network will only sell and service commercial vehicles, with a firm focus on the unique needs of truck and bus customers. It will also exclusively represent Daimler brands Mercedes-Benz, Freightliner and Fuso.

From Brad Fauvre and Conan Barker, Co-Presidents of VVG, “we are very pleased to reach today’s milestone and to welcome the Australian Daimler Truck and Bus Dealerships of Eagers Automotive to the VVG Family. There is a lot of important work ahead of us to deliver on the vast potential that this team has to offer and to take on such an important footprint for Daimler in Australia. We want to thank Eagers for working together with us to acquire their Daimler trucks business and we wish them the best in their future endeavours”.

“In the US we are one of the largest Daimler Truck dealer groups, with a hard-earned reputation for doing everything we need to do to deliver Speed, Value and Trust for our customers every day. Our team has successfully integrated a number of dealer acquisitions into the VVG family, with great results, and we are confident we can do the same now in Australia. We know we welcome a dedicated team across our Australian dealerships, and we are sure that together with their US VVG colleagues and the dedicated management team in Australia, we will be able to deliver world-class service to the Australian truck market. We look forward to getting to know our Australian customers and employees as we execute on our mission of Speed, Value and Trust”.

From Richard Higgins, Executive Vice President VVG Australia, “the Velocity culture is marked by a real focus on continuous improvement, transparency and a willingness from everyone from top to bottom to pitch-in to help each other and drive great results for customers. The VVG culture and values fit well with what Australian customers expect and how Australians like to work. I am excited for the team in Australia to become a part of VVG because together we can each be better operators on our respective sides of the Pacific”.

Daimler Truck and Bus President and CEO, Daniel Whitehead, thanked Eagers Automotive for its partnership during a time of growth for Daimler commercial vehicles.

“We have achieved a lot together and I wish them all the best for the future,” he says.

Mr Whitehead says he is excited that Velocity Vehicle Group will be supporting its brands in key markets across Australia.

“We are extremely pleased to work with a group that has such an incredible track record with Daimler Trucks in the United States which consistently delivers on a core commitment to commercial vehicle customers,” he says.

“Daimler currently has the best and most advanced cab-over and conventional trucks in Australia, and they will now be sold and supported by a strengthened dealership network of equal calibre,” Mr Whitehead adds.

Daimler Truck and Bus Australia Aftersales and Network Operations Director, Greg Lovrich, says the significant investment of Velocity Vehicle Group represents a big step forward.

“We have long admired the Velocity Vehicle Group as a shining example of a best-practice commercial vehicle dealership network in a market where Daimler is number one and excellent customer service is critical to doing business,” he says.

“Velocity Vehicle Group knows what it takes to provide the kind of service that truck and bus customers expect from Daimler and we are thrilled about the commitment it is making to the Australian market,” Mr Lovrich adds.

ENDS