The parties have agreed not to disclose the amount of the purchase price. The transaction is still subject to approval by the relevant anti-trust authorities; approval is expected by the end of the year, a press release reads.

"With the completed withdrawal from the wholesale business, we are advancing the strategic realignment of our aftermarket," says Dr. Werner Benade, Managing Director responsible for the Aftermarket and Special Applications segments at Hella. "In the future, we will thus align our product portfolio even more strongly along our original equipment competencies, especially in the areas of lighting and electronics while linking it to our strong workshop equipment expertise. Above all, we will continue to expand our successful repair solutions business and take advantage of new growth opportunities arising from the digitalization and increasing interconnectedness of vehicles."

Against the background of the strategic realignment of the aftermarket, Hella had already sold the two Danish and Polish wholesale companies FTZ and Inter-Team to the Swedish wholesaler Mekonomen in September of this year.

Hellanor currently employs around 250 people and generated sales of around 70 million euros in the past 2017/2018 fiscal year.