Car insurer buys majority stake in garage chain
The insurance group HUK-Coburg, particularly well known for its car insurance, is taking over the Majority at the Pitstop workshop chain.
To this end, the Group subsidiary HUK-Coburg Mobilitätsholding GmbH is increasing its stake in Pitstop.de GmbH, which it has held since 2022, from 25.1 per cent to 84.9 per cent. According to the HUK-Coburg press release, Bridgestone Europe NV/AS will continue to hold a minority stake of 15.1 per cent in Pitstop.
The previous majority shareholder Stefan Kulas is leaving the group of shareholders, but will remain a member of the management.
HUK-Coburg has set 2 January 2025 as the closing date for the transaction, which is still subject to approval by the antitrust authorities.
Klaus-Jürgen Heitmann, CEO of the HUK-COBURG insurance group, explains the motives behind the majority takeover of the garage chain: „By acquiring a majority stake, we are consistently taking the next step in the orientation of HUK-Coburg as a service provider for all aspects of mobility.“ With the broader range of car-related services, HUK-Coburg is now directly at the customer interface, which goes beyond the insurance business.