SYDNEY: Vmoto Limited has announced the full acquisition of Vmoto Soco Italy (VSI), purchasing the remaining 50% stake from European entrepreneurs Giovanni Castiglioni and Graziano Milone.
This move increases Vmoto’s share to 100% and aligns with strategic objectives to enhance Italian operations, streamline distribution, and achieve cost savings.
Established in 2018, VSI has become a leading distributor of e-motorcycles and e-scooters in Italy, partnering with prestigious brands like Ducati and Porsche.
The acquisition terms include issuing shares worth EUR 500,000 to Castiglioni and Milone, who have not drawn salaries since VSI’s inception.
Vmoto has also appointed Milone as the B2C Chief Operating Officer and retained Castiglioni as a global advisor, focusing on business development and strategic partnerships.
The company has further strengthened its position through alliances with CA Auto Bank, supporting dealer financing across Italy and Europe.
Charles Chen, Managing Director of Vmoto, said: “The acquisition of VSI is a well thought out strategic move, as it has become clear that to maximise performance in Italy, in conjunction with our existing operations, we need to increase Vmoto’s investment in and support of the Italian operations.
In addition, after working with Milone and Castiglioni for many years, they have demonstrated their valuable experience and track record in the global motorcycle industry and now is the time to work closer with them at a Group level and on a global basis”.