Pursuant to the Zagreb Stock Exchange Rules and in line with transparent information distribution to the CIAK Group investors, as well to other participants in business and financial sector, CIAK Group hereby announces that the acquisition transaction of the company Next Auto d.o.o., Podgorica, Montenegro has been fully executed.
Company Next Auto is the leading independent automotive aftermarket distributor (IAM) in Montenegro, generating turnover of more than 10 milion EUR, with 85 employees present on 6 locations throughout Montenegro. Company Next Auto is present for many years on the market and thanks to the highly developed logistics-distribution system, the portfolio of several thousand customers and product assortiment of over 70.000 unique references, it is performing exceptionally and with continuous growth.
Taking into consideration CIAK Group core business, company Next Auto d.o.o. is one of the logical steps in further strengthening and CIAK Group portfolio growth. With this transaction CIAK Group becomes the market leader in the independent automotive aftermarket in Montenegro.
CIAK Group wishes a warm welcome to the new company and to the new team members. We look forward to further joint development of the business, integration and synergy on the CIAK Group level.