AUTOSPORTS Group is to buy Stillwell Motor Group for $55 million, ending a 75 year ownership of a string of Victoria-based new-car dealerships by the Stillwell family; businesses that go back to renowned racing driver Bib Stillwell.

Stillwell Motor Group (SMG), now run by the five children of founder Bib Stillwell, currently has franchises for BMW, BMW Motorrad, Mini, Volvo, MG and Ducati in four locations.

Autosports said these franchises contribute more than $345 million in annualised revenue, the equivalent of 13 per cent of the annualised revenue of Autosports. Autosports said it has an agreement to buy 100 per cent of SMG with completion of the deal conditionally set for October this year.

The price comprises $45 million for goodwill and about $10 million for net tangible assets, plant and equipment.

It is not the first deal struck between SMG and Autosports. In December 2020, Autosports sold Volvo Cars Brighton to SMG. At that time, SMG also owned Volvo Cars South Yarra and Doncaster.

Two months later, in January 2021, Autosports paid $26.25 million to SMG for Brighton Jaguar Land Rover and its property in Brighton East.

Autosports Group CEO said in a statement to the Australian Securities Exchange (ASX) that SMG “could not be more perfectly aligned to Autosports Group’s luxury brand and major metropolitan market growth strategy.”

Nick Pagent

SMG directors Marianne Stillwell and Chris Stillwell, said that in the family’s 75th year of direct ownership and operation of franchised motor vehicle and motorcycle dealerships they were “gratified to see our multi-award winning dealerships join forces with Autosports.”

They said Autosports was “a company which recognises our legacy and is well positioned to drive future growth for the businesses.”

“We would like to acknowledge our extraordinary staff who have serviced our customers and our long-term brand partners BMW Group and Volvo Cars with distinction.”

SMG was founded by renowned racing driver Bib Stillwell (1927-1999) who started selling MG sports cars in 1949.

The business was built around the fame attracted by Bib, who first raced an MG TC in 1947 on the nation’s racing circuits. Bib Stillwell’s motor racing career had been making him a household name with the Australian motoring public.

Marianne Stillwell

GoAutoNews Premium wrote that Bib’s fortunes took a leap forward in 1953 when he was approached by General Motors and shortly after B.S.Stillwell-Holden was established in Kew, a well-to-do eastern suburb of Melbourne. 

It was a time when GM was offering Holden franchises to other racing luminaries including Stan Jones (father of world champion Alan Jones), Reg Hunt and Bill Patterson.

The Stillwell’s dealership in Cotham Road was to remain the base for the company for decades.

In 1966, just six years after the launch of the first Falcon and in a period of intense rivalry between Holden and Ford, Bib caused a major upset for Holden with an eye-raising decision to switch his Kew Holden dealership to selling Fords. Holden was devastated. Ford loved it.