Skip to main content
Back to homepage
Back to press releases

D’Ieteren and Clayton, Dubilier & Rice have signed a definitive agreement regarding a partnership investment in Belron

Download zone

28 Nov 2017 - Group

Reference is made to D’Ieteren’s press release of 19 November 2017 relating to the entry into exclusive discussions regarding a partnership investment by Clayton, Dubilier & Rice (“CD&R”) in the Belron group, the global leader in the vehicle glass repair and replacement (“VGRR”) market.

Further to the information and consultation process with Belron’s French works’ councils, D’Ieteren and CD&R have signed on 28 November 2017 a definitive agreement regarding the acquisition by CD&R of a 40% ownership interest in the Belron group. D’Ieteren and management will retain the remaining 60% ownership interest in the company. The proposed transaction values Belron at EUR 3 billion (enterprise value) which, after deduction of debt-like items (including a dividend payment of EUR 453 million), translates into an equity value of about EUR 1,550 million. The transaction remains subject to the approval of the relevant regulatory and competition authorities.

End of press release

Group profile

In existence since 1805, and across family generations, D’Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The group has currently three activities articulated around strong brands:

  • D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of around 22% and 1.2 million vehicles on the road at the end of 2016. Sales and adjusted operating result reached respectively EUR 3.1 billion and EUR 75.8 million in FY 2016.
  • Belron (94.85% owned) makes a difference by solving people’s problems with real care. It is the worldwide leader in vehicle glass repair and replacement, trading under more than 10 major brands including Carglass®, Safelite® AutoGlass and Autoglass®. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Sales and adjusted operating result reached respectively EUR 3.3 billion and EUR 190.7 million in FY 2016.
  • Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across 102 countries. Sales and operating result reached respectively EUR 145.2 million and EUR 34.0 million on a stand-alone basis in FY 2016.

About CD&R

Founded in 1978, Clayton, Dubilier & Rice is a private investment firm. Since inception, CD&R has managed the investment of more than USD 24 billion in 75 companies representing a broad range of industries with an aggregate transaction value of more than USD 100 billion. In Europe, the Firm’s recent investments include BUT, SPIE and Rexel in France, and B&M, BCA, MFG and Exova in the UK, as well as Kalle and Mauser in Germany. The Firm has offices in New York and London. For more information, visit


Axel Miller, Chief Executive Officer

Arnaud Laviolette, Chief Financial Officer

Pascale Weber, Financial Communication - Tel: + 32 (0)2 536.54.39

E-mail: – Website:

Recent press releases

  1. 7 Apr 2021 - Group

    Test 3

    Read the press release
  2. 7 Apr 2021 - Results


    Read the press release
  3. 7 Apr 2021 - Group

    Test 2

    Read the press release
  4. 16 Mar 2020 - Moleskine

    Daniela Riccardi appointed as CEO of Moleskine

    Read the press release
Back to press releases