Company History

WORLD DISTRIBUTORS ACQUIRES HWP GROUP’S CYCLE DIVISION

 

 

(Hamilton, Bermuda, March 23, 2012) – World Distributors Ltd. announces today that it has acquired HWP Group’s cycle division assets. With this acquisition, World Distributors will now be the authorised dealer for Honda and Piaggio motorcycles in Bermuda. The product line-up will expand to include Honda, Piaggio, Vespa, Aprilia, Derbi and Gilera brands. In addition, World Distributors will be offering after sales, parts and service for Honda and Piaggio. Currently, World Distributors is the only authorised dealer of Yamaha motor bikes in Bermuda.

“We’re excited to grow our product offering,” said Eugene Bothello, President of World Distributors. “The combination of quality products and stellar service from highly experienced staff will continue to be the cornerstone of our business.”

The cycle division at HWP Group will officially close on March 28 with Piaggio and Honda operations to begin again at World Distributors on April 9.

“With the loss sustained from last year’s fire, we had to be strategic about our business and decided that we needed to focus on our core business of automotive sales and after sales including parts and service as well as our service stations on St. John’s Road and East Broadway,” said Jonathan Brewin, President & CEO of HWP Group. “We’ve been in business with Honda motorcycles and Piaggio for over 50 years and it was very important to us that we nominated a successor that would represent these brands well. We’ve been working in conjunction with Eugene to ensure a smooth transition and we are confident that World Distributors will continue to offer the best service and after sales platform for Honda and Piaggio in purpose-built facilities.”

All warranties for customers who purchased a bike at HWP Group will be honoured at World Distributors.

“This is just the beginning for us,” said Mr. Bothello. “In addition to the largest cycle showroom in Bermuda with about 4,000 sq ft of product display, we will be unveiling exciting new plans for retailing.

As a result of the acquisition, there will be six redundancies at HWP Group while World Distributors will be increasing its staff to handle the additional workload.

“Both companies will be actively working together to help redundant employees secure new employment,” said Mr. Brewin. “I would like to thank these employees for their years of service to HWP Group. Our key priority right now is to assist them in finding alternative employment as swiftly as possible.”

Mr. Bothello added: “Consolidation is key in this shrinking market. Cycle sales have decreased 30 per cent in Bermuda since 2006 and, in order to remain viable, we have had to look at creative strategies to grow our business in the current deteriorating market conditions.