MAG SOUTH COAST PTY LTD

MAG South Coast - Country Motor Company / Kinghorn Motors

McCarroll’s of Moss Vale Pty Ltd (MMV) proposes to acquire substantially all of the assets of 2 separate and independently owned motor vehicle dealership businesses, Country Motor Company Pty Ltd (Country Motor Company) and Kinghorn Motors Pty Ltd (Kinghorn Motors), via a special purpose vehicle, MAG South Coast Pty Ltd (MAG South Coast). As part of the transaction, MMV, via McCarroll’s Property Holdings Pty Ltd, also proposes to acquire the land on which Country Motor Company and Kinghorn Motors respectively operate. MMV is a new and used vehicle retail business operating 15 franchised dealerships across locations in the Sydney, North Shore, Hornsby, and Newcastle areas of New South Wales (NSW). It is the authorised dealer of 15 original equipment manufacturer brands, including Alfa Romeo, BYD, GWM, Ferrari, Maserati, and Volkswagen, and also supplies parts, servicing, and finance. Country Motor Company operates three franchised dealerships in the Nowra region on the NSW South Coast, representing Hyundai, Isuzu, and GWM. Kinghorn Motors operates two franchised dealerships in the Nowra region, representing Ford and Volkswagen. Both businesses also supply parts, servicing, and finance. The parties all supply new and used cars, parts, servicing, and financing solutions. However, MMV does not presently operate any franchised dealerships in the Nowra area and is not an authorised dealer for Ford, Hyundai, or Isuzu.