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Frey Group sells import company
Frey Holding GmbH and Toyota Motor Europe (TME) agreed to sell Toyota Frey Austria to TME. Completion is subject to competition law approval and is planned for the first quarter of 2019.
Frey Group sells import company
The Frey family started as Toyota importers in Austria in 1971 and steadily expanded the market in Austria. Friedrich Frey: “Our decision takes into account the international development of the automotive industry and is therefore part of a long-term growth strategy for both TME and us.” Managing director Anja Frey-Winkelbauer is pleased that she was able to successfully conclude the negotiations with TME: “Our sale not only serves to further strengthen and secure the Toyota brand in Austria in the long term, but also enables us to concentrate on the very successful retail sector.” Johan van Zyl, President and CEO of Toyota Motor Europe (TME): “The Austrian market is part of our growth plans in Europe, so TME decided to invest further in future expansion.” Anja Frey-Winkelbauer will continue to be responsible for Toyota Frey Retail GmbH.