Inchcape strengthens Mercedes-Benz relationship with Silver Star buy

(Alliance News) - Inchcape PLC on Friday said it has agreed to acquire Silver Star, the official distributor of Mercedes-Benz passenger vehicles and Daimler trucks and buses in Bulgaria.

The London-based automobile distributor said the transaction will further scale its share of passenger vehicles in the Bulgarian market, as well as expand its presence in the truck category.

Inchcape noted its distribution partnership with Mercedes-Benz Group AG started back in 2019, and spans three regions.

The company added that it has operated in Bulgaria since 1996, holding an around 13% of market share in passenger vehicles, and an around 6% share in light commercial vehicles via partnerships with Lexus and Toyota.

Financial terms of the deal were not disclosed, but Inchcape said Silver Star generated around GBP240 million in revenue for financial 2025.

"This acquisition is a clear example of our Accelerate+ strategy in action: selectively building scale in small to medium markets where we can create value for our OEM partners and customers. Silver Star will strengthen our Mercedes-Benz relationship, enable us to expand into the truck category in Bulgaria and materially increase our market presence," said Chief Executive Duncan Tait.

Inchcape added that the deal is subject to customary closing conditions and approvals, and is seen completing in the third quarter of this year.

Shares in Inchcape rose were trading 1.3% higher at 829.50 on Friday morning in London.

By Christopher Ward, Alliance News reporter

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