Arval acquires Athlon's Swiss fleet
Arval has acquired the entire full-service fleet of Athlon Switzerland. The acquisition, representing about 800 vehicles, will allow Arval Switzerland to consolidate its leading position in the Swiss market, adding to its assets a high-quality portfolio, both in terms of assets and customers.
“To grow our business, we decided to focus our activities and investments on the other European markets where we are present,” said Christian Schüler, CEO of Athlon, explaining the sale.
While Arval and Athlon have already agreed on the deal, the transaction will still have to go through all the proper channels. It is nevertheless expected to close relatively soon – before the summer. Both companies will ensure the customers will have a smooth and seamless transition.
“This acquisition reinforces our #1 position in Europe in terms of full-service leasing,” said Alain van Groenendael, Chairman and CEO of Arval.
In all, Arval manages close to 1.4 million vehicles in 30 countries around the world. Athlon's total portfolio includes 400,000 vehicles, concentrated in 12 countries in Europe.