Wetteri Oyj: Wetteri completes its fifth acquisition and acquires Rinta-Jouppi's Kia and Mitsubishi businesses in Oulu, Pori and Rovaniemi

Wetteri Auto Oy, a subsidiary of the automotive growth company Wetteri Plc, acquires Rinta-Jouppi's Car Dealership's Kia and Mitsubishi businesses in Oulu, Pori and Rovaniemi. In the business transaction, Kia and Mitsubishi sales and maintenance services are transferred to Wetteri. The business will be transferred to Wetteri as of 1[st] October 2024, the maintenance staff will be transferred to Wetteri as existing employees.

Wetteri has recently deepened its cooperation with Astara Finland Oy and expanded its Kia and Mitsubishi businesses to several new locations. Wetteri's annual Kia and Mitsubishi sales volume will reach app. 1,500 vehicles and the total turnover approximately EUR 125 million, including new and used cars sales as well as spare parts and maintenance.

Aarne Simula, CEO and President, Wetteri Plc:

"For Wetteri, this transaction is a significant contribution to the growth of Kia and Mitsubishi service operations and sales. Recently, we reported on the expansion of Kia and Mitsubishi to five new locations, and this transaction continues to strengthen our market position. The nationwide and growth-oriented Wetteri has a strong position, as car importers reorganize their dealership networks."

Sami Kankaanpää, CEO, Rinta-Joupin Autoliike Oy:

"As a result of the business transaction, family-owned Finnish company, Rinta-Joupin Autoliike Oy, is clarifying its strategy and will, in the future, focus on the trade of used vehicles, carefully selected new car brand representations in both sales and service, as well as the sale and servicing of recreational vehicles. The business transaction enables us to achieve stronger market share growth, reinforcing our position as one of the largest buyers and sellers of used cars in Finland."

Wetteri has Kia and Mitsubishi representation in Oulu, Joensuu, Kajaani, Lempäälä, Iisalmi, Pori, Rovaniemi, Kemi and Ylivieska.

More information

Aarne Simula, CEO, Wetteri Plc:

Tel. +358 400 689 613, aarne.simula@wetteri.fi

Sami Kankaanpää, CEO, Rinta-Joupin Autoliike Oy

Tel. +358 44 599 4247, sami.kankaanpaa@rinta-jouppi.com

Wetteri Plc - an entrepreneur-driven growth company in the automotive sector

Wetteri Plc is an entrepreneur-driven growth company in the automotive sector. The company engages in the retail sales of passenger cars, commercial vehicles and heavy vehicles, and produces maintenance and repair shop services for vehicles, from passenger cars to heavy vehicles. Headquartered in Oulu, the company has 50 locations in Finland. The company employs app. 1,000 people, of whom around 70% work in maintenance and repair services. Wetteri promotes digitalisation in the automotive sector and is an important player on the common journey towards emission-free motoring. More information: sijoittajat.wetteri.fi/en/

Rinta-Joupin Autoliike Oy

Rinta-Joupin Autoliike Oy is one of Finland's largest car dealership chains, having conducted honest vehicle sales since 1953. We have 28 locations, serving customers from Espoo to Rovaniemi. You can explore all 4,000+ vehicles in our selection at rinta-jouppi.com. We represent 5 passenger and commercial vehicle brands, as well as 8 motorhome brands. We sell over 30,000 vehicles annually, and our professional service network operates in 9 locations. Our annual turnover is approximately 550 million euros, and we employ around 650 people.