Feb 24, 2011

Spyker Sells Car Unit to CoachBuilders CPP

Spyker Laviolette GTR

CPP a premium coachbuilding company based in United Kingdom, is buying out Spyker. The purchase price is said to be 32 million Euros, 15 million Euros will be paid immediately and the remaining 17 million Euros will be paid over a six year ‘earn-out’ period.

Brendan O’Toole the Managing Director of CPP, said that “This acquisition is very positive news for everyone connected to Spyker. We’re absolutely confident that independent ownership will enable us to rapidly progress an invigorated business plan, to which CPP is fully committed.”He added that “The management of CPP is very excited about the acquisition of the Spyker sportscar business, and the brand is entering a period of major development”. Also at the end adding “Production of the new Spyker flagship supercar, the C8 Aileron, is progressing well and we are ramping up production of customer cars at our new purpose-built facility in Coventry. We have well-developed plans to expand the product range further, and the future for the Spyker brand is incredibly exciting.”

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