Cover Inchcape Plc (“Inchcape”) the leading independent multi-brand global automotive distributor today announces an agreement to enter into a joint venture with CATS Group of Companies (“CATS”), the leading distributor of luxury vehicles in the Philippines, including the acquisition by Inchcape of a controlling stake in CATS.
Inchcape Plc (“Inchcape”) the leading independent multi-brand global automotive distributor today announces an agreement to enter into a joint venture with CATS Group of Companies (“CATS”), the leading distributor of luxury vehicles in the Philippines, including the acquisition by Inchcape of a controlling stake in CATS.
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Inchcape Plc, an independent multi-brand global automotive distributor, acquires a controlling stake in CATS Group of Companies, one of the leading distributors of luxury vehicles in the Philippines
Founded by Felix R Ang in 1989 as a car accessories, tires, and service centre, CATS has been one of the Philippines' biggest one-stop shops for luxury passenger vehicles. Since 2004, the company has been a trusty distributor of Mercedes-Benz, Chrysler, Jeep, Dodge, and Ram Trucks.
On the other hand, Inchcape Plc is a British multinational automotive distributor that shares the same core purpose with CATS: "to fulfil the aspirations of customers who want to own the car of their dreams".
In 2023, the two will work together to bring global scale across 40 markets. The joint venture between Inchcape and CATS manifests the latter's “Accelerate Strategy”, delivering its ambition to expand its existing global footprint and presence in Asia and other under-penetrated markets.
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Above Inchcape Plc (“Inchcape”) the leading independent multi-brand global automotive distributor today announces an agreement to enter into a joint venture with CATS Group of Companies (“CATS”), the leading distributor of luxury vehicles in the Philippines, including the acquisition by Inchcape of a controlling stake in CATS.
Inchcape Plc (“Inchcape”) the leading independent multi-brand global automotive distributor today announces an agreement to enter into a joint venture with CATS Group of Companies (“CATS”), the leading distributor of luxury vehicles in the Philippines, including the acquisition by Inchcape of a controlling stake in CATS.
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“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," says Inchcape APAC CEO Ruslan Kinebas.
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“After over 30 successful years of operating independently, we believe the time is now right for CATS to take the next step in our growth journey and in Inchcape we have found the right partner to drive us forward. The Philippines is a fast-growing market with an increasing demand for the luxury vehicles we provide, and we look forward to leveraging Inchcape’s leadership in digital and data to further build our distinctive market position through the provision of best-in-class customer service," Ang says.
Both companies also seek to become the undisputed number-one distribution partner for automotive manufacturers. The deal is expected to close in H2 2023 with the Ang family retaining 40 per cent of the company.
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Jove holds a degree in Journalism and is currently pursuing graduate studies in Philosophy at the University of the Philippines–Diliman. She has flair for in-depth, interview-driven stories that explore politics and culture, shaped by her background in national broadsheets.
When she’s not on assignment, Jove spends her days painting, sipping lemonade, and walking her dog, Jupiter. She can often be seen in Escolta with a film camera in hand, browsing novelty shops in search of rare memorabilia. For leads, reach her at Jove@tatlerphilippines.com.
