Inchcape PLC (Inchcape), a leading independent multi-brand global automotive distributor, today announced an agreement to enter into a joint venture with CATS Group of Companies (“CATS”), the leading distributor of luxury vehicles in the Philippines, including the acquisition by Inchcape of a controlling stake in CATS.
Founded by Felix R. Ang in 1989 as a car accessories, tires, and service center business, CATS has grown to become the leader in premium vehicle distribution and the biggest one-stop-shop luxury passenger vehicle center in the country. CATS is currently the local distributor of the Mercedes-Benz, Chrysler, Jeep, Dodge, Ram, Jaguar, and Land Rover brands. Also in Cats’ portfolio are dealerships for Mazda and Harley Davidson Motorcycles.
Inchcape is a British multinational automotive distribution, retail, and services company headquartered in London. Inchcape APAC currently distributes new vehicles and parts in Australia, Brunei, Hong Kong, Indonesia, Guam, Macau, New Zealand, Saipan, Singapore, and Thailand for a large portfolio of OEM brands: Toyota Motor Corporation, Subaru, Suzuki, Jaguar Land Rover, BMW Group, Chevrolet, Great Wall Motor, Peugeot Citroen, Harley-Davidson, Daimler Trucks and Buses, Hino, and other commercial vehicle partners.
Inchcape will bring CATS to the next step in its journey, bringing its global scale across more than 40 markets, leadership in digital and data, and EV expertise to the Philippine market.
The deal is expected to close in the second half of 2023, with CATS’ founding Ang family retaining the remaining 40% of the company and continuing to be represented on the Board by Felix Ang, and the management team.
“We are very pleased to be entering the new and strategically important market of the Philippines through the acquisition of a controlling stake in CATS’ Philippine operations. As the leading luxury vehicle distributor in the market, CATS has excellent OEM relationships, and we look forward to working with them and the Ang family to drive the business forward,” said Inchscape APAC CEO Ruslan Kinebas.
“After over 30 successful years of operating independently, we believe the time is now right for CATS to take the next step in our growth journey, and in Inchcape we have found the right partner to drive us forward. The Philippines is a fast-growing market with an increasing demand for the luxury vehicles we provide, and we look forward to leveraging Inchcape’s leadership in digital and data to further build our distinctive market position through the provision of best-in-class customer service,” said Felix R. Ang, CATS Group of Companies founder.