BMW to Acquire Alpina Brand
11 March 2022 - 03:35AM
Dow Jones News
By Giulia Petroni
BMW AG said Thursday that it has reached an agreement to acquire
the brand of Germany-based auto manufacturing company Alpina
Burkard Bovensiepen GmbH & Co.
The German luxury car maker said the acquisition of Alpina's
trademark rights is subject to conditions, including approval by
antitrust authorities.
The existing cooperation agreement between the two parties,
which was extended in late 2020, will expire on Dec. 31, 2025.
"The sale of trademark rights to BMW and the resulting
discontinuation of the current Alpina vehicle program at the end of
2025 will have implications for existing jobs at the Buchloe site,"
where Alpina is based, BMW said.
Financial details of the deal weren't disclosed.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 10, 2022 11:20 ET (16:20 GMT)
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