The CATS Motor Group is one of the veteran automotive distribution groups in the Philippines. They have become known as distributors for luxury brands such as Mercedes-Benz, Jaguar, and Land Rover, as well as niche brands like Jeep, Dodge, and Ram.
Despite the group’s sustained success over the years, they have decided to bolster up for the future.
Inchape x CATS
Inchcape Plc (“Inchcape”) a leading independent multi-brand global automotive distributor announced yesterday that it has agreed to enter into a joint venture with CATS Group of Companies, a leading distributor of luxury vehicles in the Philippines, including the acquisition by Inchcape of a controlling stake in CATS.
Inchcape will power the group to the next step in its journey, bringing global scale across more than 40 markets, leadership in digital and data, and EV expertise to the fast-growing and dynamic Philippine market where automotive sales are forecast to grow to 500,000 by 2026 with the luxury market expected to grow at an even stronger rate.
The joint venture with CATS is a great example of Inchcape’s “Accelerate Strategy” in action, delivering on the Group’s ambition to expand its existing global footprint and presence in Asia and other underpenetrated markets while becoming the undisputed number one distribution partner for automotive manufacturers and the employer of choice for current and future employees.
The deal is expected to close in H2 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 Ruslan Kinebas, Inchcape’s APAC CEO.