Inchcape (LSE:INCH) has agreed to acquire a Volvo distribution business spanning Peru and Costa Rica, along with a Jaguar Land Rover business in Peru, both bought from Automotores Gildemeister.
The businesses generated combined revenue of approximately £48.7m ($64m) in FY2025 and employ around 90 people across three retail locations in Peru and two in Costa Rica, the global automotive distributor said.
The deal follows Inchcape's agreement in May to acquire Silver Star, the Mercedes-Benz and Daimler Trucks & Buses distributor in Bulgaria, which generated around £240m in FY2025 revenue and is expected to complete in the third quarter. It also follows a bolt-on acquisition in Iceland completed in the third quarter of last year.
Inchcape framed the Peru and Costa Rica deals as part of its Accelerate+ strategy and disciplined capital allocation approach, noting that Peru reached a record total industry volume of 187,000 vehicles in 2025 while Costa Rica reached just under 69,000 units.
The acquisitions build on Inchcape's existing partnerships with Jaguar Land Rover in Chile, Colombia and markets across Asia-Pacific and Europe & Africa, and with Volvo in Chile and Ecuador.
"Drawing on our deep knowledge of local markets and our proven ability to deliver sustainable growth, these acquisitions will expand our footprint in the Americas, grow the range of vehicles we offer customers and further strengthen our relationships with OEM partners," said Duncan Tait, Inchcape's group chief executive.
Marcello Marchese, chief executive of Automotores Gildemeister, said the sale reflects the seller's strategy "to optimise our portfolio and focus investment on the core segments where we can create the greatest value".
The transactions are expected to complete during the first quarter of 2027, subject to customary conditions and approvals.