Arval, part of BNP Paribas Group, announces the completion of the acquisition of Terberg Business Lease Group B.V. (TBLG) in the Netherlands and Belgium by its Dutch subsidiary Arval B.V. (Arval), which was announced earlier this year. Arval acquires 100% of the shares from its shareholders Royal Terberg Group and AutoBinck Group.
With this acquisition, Arval will further diversify its business product offering, becoming one of the largest mobility players in the Dutch market, with an approximate total of 500 employees and over 100,000 leased vehicles. Andrea Falcone will be heading the new Arval Netherlands together with Rogier van Ewijk, currently CEO at TBLG, on the condition that all the regulatory approvals and processes have been successfully concluded.
Following consultation of the respective employee representatives by both parties, the European Commission’s declaration was received on 16 November, 2022 that the acquisition is compatible with EU anti-trust law. Royal Terberg Group and AutoBinck Group wish the combined Arval-TBLG business every success.
Andrea Falcone, designated General Manager at Arval Netherlands: “Today's announcement marks an important milestone for Arval. With this acquisition we diversify our product offering and gain a leading position in the private lease market in Belgium and the Netherlands. Diversification and strengthening our digital capabilities will accelerate our ambition to become a mobility partner, offering the optimal mix of mobility solutions to our clients. I am very pleased to join at this exciting time and become part of this growth journey. I look forward to the collaboration with Rogier and the colleagues of Arval Netherlands to support our clients and become a key player in sustainable mobility.”
Rogier van Ewijk, designated General Manager at Arval Netherlands comments: “The complementarity of our businesses unlocks new opportunities for clients and employees. The digital retail strategy of Arval will receive a strong impulse from adding the JustLease label and its market-leading e-commerce platform. By combining the innovation capability of our teams we will provide the market with new sustainable alternatives in vehicle rental, private lease, car sharing and mobility budgets. I look forward to, jointly with Andrea, advance the roll-out of the Arval Beyond strategy to improve and deploy sustainable mobility solutions in the Netherlands.”