Processing timeline
25
days
Acquirer(s)
VOLVO GROUP AUSTRALIA PTY LTD ABN - 27 000 761 259
Target(s) or Vendor(s)
SOUTHSIDE AGENCIES (LISMORE) PTY LTD ABN - 86 001 496 626
Other parties
None listed
Volvo Group Australia is acquiring specific assets from Southside Agencies (Lismore) Pty Ltd, operator of Southside Truck Centre. This asset sale includes Volvo, Mack, and UD branded trucks, parts, and contracts from Southside's truck dealership business in the Coffs Harbour to Lismore region of New South Wales.
Volvo Group Australia ( VGA ) proposes to acquire, by way of an asset sale agreement, certain assets from Southside Agencies (Lismore) Pty Ltd ( Southside ) relating to Southside's Volvo truck dealership business (the Acquisition ). The assets to be acquired comprise Volvo, Mack and UD branded trucks and genuine parts, along with certain contracts relating to the business. The Acquisition does not include any real property, employees, or liabilities of Southside. VGA, a subsidiary of Swedish-headquartered AB Volvo, is active in Australia in: the manufacturing, assembly and wholesale supply of commercial (heavy duty) trucks and related parts under the Volvo, Mack and UD brands ( Volvo Dealership Brands ); the importation and wholesale supply of heavy buses; the operation of six primary commercial vehicle distribution centres across Queensland and New South Wales, which are involved in the retail supply of commercial trucks and buses, and related parts and servicing for trucks and buses under the Volvo Dealership Brands; and the importation and wholesale supply of marine and industrial engines, related parts and servicing. The broader Volvo Group is active in Australia in the wholesale supply of Volvo Construction Equipment and the provision of financial services in connection with the acquisition of trucks and buses. These activities are undertaken separately from VGA. Southside owns and operates commercial vehicle dealerships under the name "Southside Truck Centre" from premises located at Coffs Harbour and South Lismore, New South Wales. The business is involved in the retail supply of new and used trucks, including the Volvo Dealership Brands together with a range of third-party brands including Hino, Western Star, MAN and Dennis Eagle, the sale of genuine parts and accessories, and the supply of after-sales services including vehicle servicing and repairs. Southside also supplies parts from premises located in Port Macquarie, but this location is not included in the Acquisition. On completion of the Acquisition, VGA will take responsibility for the sale of commercial trucks and parts and associated servicing throughout the Coffs Harbour to Lismore region of New South Wales until a new dealer (or dealers) is appointed for the region.