The family-owned Gowan Group has announced a deal to buy Opel Ireland from Opel Automobile for an undisclosed sum.
When the deal is complete, Gowan Group will be Opel's wholesale import partner in Ireland.
The group will be responsible for all of Opel Ireland’s operations and current Opel employees will transfer on completion of the transaction.
The deal is still subject to approval from the Competition and Consumer Protection Commission.
Gowan Group, which is owned by the Maughan family, has been involved in motor distribution in Ireland for 50 years, importing Peugeot vehicles since 1969 and Honda vehicles since 1984.
It also has a number of other trading divisions including kitchen white goods distributor KAL Group and Senator Windows.
The group currently employs over 250 people here.
Michael Dwan, CEO of Gowan Group, said the business has an in-depth understanding of the Irish motor market and a strong appreciation of the Opel brand.
"The close engagement with our colleagues in Russelsheim through this process, together with the expertise and capability within the group and within Opel Ireland, the strong dealer network and customer base and the exciting new product pipeline all underpin our belief that Opel will fully realise its potential in the Irish market in the years ahead," Mr Dwan said.
