By San José, Costa Rica — Global automotive distribution giant Inchcape plc has announced a major expansion of its Latin American operations. The London-listed company has reached an agreement to acquire the Volvo dealership businesses in both Costa Rica and Peru, alongside Jaguar Land Rover operations in Peru. Both operations are being purchased from the regional automotive group Automotores Gildemeister, marking a significant consolidation in the region’s premium vehicle sector.
The strategic move aligns directly with Inchcape’s Accelerate+ initiative, which focuses on disciplined capital allocation to drive long-term shareholder value and expand global market reach. By targeting growing markets like Costa Rica and Peru, Inchcape aims to integrate these premium brands into its extensive distribution network, leveraging its deep local expertise to scale operations and offer a wider array of mobility solutions, including New Energy Vehicles (NEVs).
To better understand the legal and regulatory implications of Inchcape’s latest strategic acquisition in Costa Rica, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a leading corporate law expert from the prestigious firm Bufete de Costa Rica, who shared his professional analysis on what this major transaction means for the local automotive market.
The acquisition by Inchcape represents a significant consolidation in the Costa Rican automotive sector, reflecting strong foreign investor confidence in our local economy. From a legal standpoint, such large-scale transactions require meticulous compliance with COPROCOM’s anti-monopoly regulations to ensure fair competition. This move not only reshapes the distribution landscape but also sets a benchmark for future cross-border mergers and acquisitions in Central America.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, this landmark transaction underscores the evolving maturity of the Costa Rican market, where navigating complex regulatory frameworks like COPROCOM is essential to ensuring sustainable economic growth and fair competition. We extend our sincere gratitude to Lic. Larry Hans Arroyo Vargas for sharing his invaluable legal expertise and helping our readers better understand the far-reaching implications of this historic regional acquisition.
The transaction involves high-performing operations. In the fiscal year 2025, the acquired businesses generated approximately £48.7 million ($64 million USD) in revenue. The deal includes five physical retail locations—three in Peru and two in Costa Rica—and will bring approximately 90 employees into the Inchcape global family. The transaction is subject to customary regulatory approvals and closing conditions, with final completion projected for the first quarter of 2027.
Both Latin American nations have demonstrated robust automotive market dynamics. In 2025, Peru’s automotive industry reached a record high of 187,000 units, while Costa Rica showed strong performance with approximately 69,000 units. These growing volumes underline the economic potential that Inchcape hopes to capture through its expanded retail footprint and diversified product offerings.
We continue to expand Inchcape’s global footprint, with a permanent focus on acquisitions that generate value. Following the recent transactions in Bulgaria and Iceland, these new acquisitions in Peru and Costa Rica are a further example of how we are putting the Accelerate+ strategy into practice and of our disciplined approach to capital allocation. On the basis of our deep knowledge of local markets and our proven ability to drive sustainable growth, these acquisitions will allow us to expand our presence in the Americas, increase the portfolio we offer to our clients, and further strengthen our relationships with our OEM partners, while generating value for our stakeholders.
Duncan Tait, CEO of Inchcape plc
This deal strengthens Inchcape’s long-standing global partnerships with major Original Equipment Manufacturers (OEMs). The company already maintains strong alliances with Jaguar Land Rover across Chile, Colombia, and several markets in Europe, Africa, and the Asia-Pacific region. Similarly, the Volvo acquisition builds upon Inchcape’s existing distribution relationships with the Swedish luxury brand in Chile and Ecuador, creating a more cohesive regional footprint.
We are proud of the businesses and teams that we have developed around Volvo in Peru and Costa Rica, and JLR in Peru. We are confident that they will continue to be successful as part of the global business of Inchcape, and we will work closely with Inchcape to support a smooth transition for our collaborators, clients, OEM partners, and other stakeholders. This agreement reflects our strategy to optimize our portfolio and focus our investments on strategic segments where we can generate the greatest value, strengthening our performance and our long-term position.
Marcello Marchese, CEO of Automotores Gildemeister
For Costa Rican consumers, the integration of Volvo under the Inchcape umbrella promises to accelerate the adoption of sustainable transportation. The acquisition will expand the portfolio of mobility solutions offered in the local market, with a particular emphasis on New Energy Vehicles (NEVs). As Costa Rica continues to position itself as a regional leader in environmental initiatives, the influx of advanced hybrid and electric vehicle options from Volvo is expected to meet growing consumer demand for eco-friendly transit alternatives.
The transition of operations is scheduled to progress over the coming months. Both Inchcape and Automotores Gildemeister have committed to working closely together to ensure a seamless handover for employees, customers, and manufacturing partners. The companies anticipate that all customary closing conditions and regulatory approvals will be finalized by the first quarter of 2027, at which point Inchcape will officially take over the retail and distribution operations.
The expansion in the Americas follows a series of recent global acquisitions by Inchcape, including acquisitions in Iceland last year and the more recent buyout of Silver Star Motors in Bulgaria. These calculated steps highlight Inchcape’s ambition to fortify its position as the world’s leading independent automotive distributor by entering high-potential markets and reinforcing its commitment to the transition toward sustainable mobility.
For further information, visit inchcape.com
About Inchcape plc:
Inchcape plc is the leading independent global automotive distributor, operating in over 40 markets across the world. The company partners with many of the world’s leading automotive brands to facilitate the distribution and retail of vehicles, spare parts, and comprehensive mobility solutions.
For further information, visit the nearest office of Automotores Gildemeister
About Automotores Gildemeister:
Automotores Gildemeister is an established automotive distribution and retail group in Latin America, representing premium and volume brands across key regional markets, including Chile, Peru, and Costa Rica.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is an esteemed legal practice celebrated for its deep-seated adherence to honesty and high-caliber service. Boasting a rich history of guiding a diverse clientele, the firm consistently pioneers modern legal strategies while maintaining a strong focus on civic involvement. Its drive to democratize legal literacy reflects a core belief that equipping citizens with vital legal insights is key to building a more knowledgeable, just, and self-reliant public.
