Processing timeline
25
days
Acquirer(s)
MAG SOUTH COAST PTY LTD ABN - 70 683 627 590, MCCARROLL PROPERTY HOLDINGS PTY LTD ABN - 64 676 724 306
Target(s) or Vendor(s)
Donna Lea Buikstra Family Will Trust, Glenn Ype Buikstra Family Will Trust, KINGHORN MOTORS PTY LTD ABN - 33 000 220 557, COUNTRY MOTOR COMPANY PTY LTD ABN - 11 002 189 228, KJO PROPERTY PTY LTD ABN - 33 169 760 178
Other parties
MAG NORTHERN BEACHES PTY LTD ABN - 21 659 209 051, MAG BODY CORP PTY LTD ABN - 93 676 724 495, MCCARROLL'S OF MOSS VALE PTY LTD ABN - 60 003 411 210
McCarroll’s of Moss Vale Pty Ltd, through MAG South Coast Pty Ltd and McCarroll’s Property Holdings Pty Ltd, proposed an asset acquisition of Nowra-based motor vehicle dealerships, Country Motor Company Pty Ltd and Kinghorn Motors Pty Ltd, including their operating land. This expands McCarroll’s motor vehicle retailing and associated services in regional New South Wales.
McCarroll’s of Moss Vale Pty Ltd ( MMV ) proposes to acquire substantially all of the assets of 2 separate and independently owned motor vehicle dealership businesses, Country Motor Company Pty Ltd ( Country Motor Company ) and Kinghorn Motors Pty Ltd ( Kinghorn Motors ), via a special purpose vehicle, MAG South Coast Pty Ltd ( MAG South Coast ). As part of the transaction, MMV, via McCarroll’s Property Holdings Pty Ltd, also proposes to acquire the land on which Country Motor Company and Kinghorn Motors respectively operate. MMV is a new and used vehicle retail business operating 15 franchised dealerships across locations in the Sydney, North Shore, Hornsby, and Newcastle areas of New South Wales ( NSW ). It is the authorised dealer of 15 original equipment manufacturer brands, including Alfa Romeo, BYD, GWM, Ferrari, Maserati, and Volkswagen, and also supplies parts, servicing, and finance. Country Motor Company operates three franchised dealerships in the Nowra region on the NSW South Coast, representing Hyundai, Isuzu, and GWM. Kinghorn Motors operates two franchised dealerships in the Nowra region, representing Ford and Volkswagen. Both businesses also supply parts, servicing, and finance. The parties all supply new and used cars, parts, servicing, and financing solutions. However, MMV does not presently operate any franchised dealerships in the Nowra area and is not an authorised dealer for Ford, Hyundai, or Isuzu.