AutoWallis Plc. has purchased an additional 40% stake in Iniciál Group, increasing its ownership to 100% in the company that holds a significant position in western Hungary and is engaged in the sale and servicing of eight vehicle brands.

AutoWallis Plc. has taken ownership of an additional 40% share of Iniciál Group, which currently employs 140 people, making the company, listed on the Prime Market of the Budapest Stock Exchange the sole owner of the group. The transaction covers the activities of Iniciál (ICL AUTÓ Kft.) with sites in four western Hungarian cities (Győr, Mosonmagyaróvár, Sopron, and Szombathely), as well as its real estate assets (INICIÁL AUTÓHÁZ Kft.). AutoWallis increased its stake in Iniciál after concluding a cooperation agreement with Iniciál Group AutoWallis — which boasts almost 30 years of experience in vehicle sales — in 2019 and then acquiring a majority share in the key regional company in western Hungary in 2020. Iniciál is involved in the sale and factory-authorized servicing of eight vehicle brands (Dacia, KIA, Nissan, Opel, Peugeot, Renault, Suzuki, and Toyota), with the company’s revenue reaching HUF 32 billion last year and a post-tax profit of HUF 413 million. Following the closing of the transaction, Zsolt Taródy, founder of Iniciál Group, will continue to support the company’s operations as head of Iniciál Group. AutoWallis CEO Gábor Ormosy emphasized that after years of excellent cooperation, the time had come to increase their stake in Iniciál Group, which enables the full integration of the company into AutoWallis Group, representing 29 brands in 16 countries across the region.