The Competition Authority of Kenya has approved the acquisition of business and assets of RMA Motors by Inchape Kenya Limited.
In a gazette notice, Director General Wang’ombe Kariuki said the acquisition is approved under section 46 (6) of the Competition Act, 2010.
Inchcape has taken over the Jaguar Land Rover (JLR) dealership in Kenya. It was previously done by RMA Group, which has exited the local market.
Kenya becomes Inchcape’s second market in Africa after Ethiopia where it currently deals in several brands including Toyota and Hino.
RMA exited the Kenyan market after five years, having taken over the JLR franchise from CMC Holdings in 2013.
Inchcape, which already sells Jaguar Land Rover brands in the UK, will inherit the most valuable and one of the fastest-selling portfolios of luxury cars in Kenya including Ranger Rover and Jaguar models.
The UK multinational, which is owned by institutional investors such as Standard Life, BlackRock, Vanguard and Aberdeen Asset Investments Ltd, sells several vehicle brands including Mercedes Benz, Toyota, Audi and BMW in 31 countries.
Inchcape takes over the RMA Kenya showroom, most of the employees as well as a planned new workshop facility. Sanjiv Shah, the former CEO of RMA Kenya, will serve as the Inchcape CEO for Kenya & Uganda.