Porsche sells its stake in Bugatti Rimac

Porsche has agreed to sell its stakes in Bugatti Rimac and Rimac Group to a consortium led by US-based investment firm HOF Capital, marking the end of the Volkswagen Group’s involvement in the Bugatti brand, which began when it acquired the brand in 1998 and later continued through the Bugatti Rimac joint venture. 

The agreements were signed on April 24, with completion subject to regulatory approvals. As part of the transaction, Porsche will divest its entire 45 percent stake in Bugatti Rimac, as well as its 20.6 percent holding in Rimac Group. 

1. Porsche to sell 45 percent stake in Bugatti Rimac
2. Rimac to take control of Bugatti Rimac
3. HOF Capital-led consortium to acquire stakes

Bugatti Rimac joint venture to come under Rimac control 

Bugatti Rimac was established in 2021 as a joint venture between Porsche and Rimac Group, with Rimac holding a 55 percent majority stake. The entity was set up to house the Bugatti brand.

Following completion of the new deal, Rimac Group will take control of Bugatti Rimac and form a strategic partnership with the HOF Capital-led consortium, which includes BlueFive Capital as its largest investor, along with institutional investors across the US and EU.

Mate Rimac, CEO of Bugatti Rimac, said, “Porsche has been a crucial partner, and we are deeply grateful for their role in establishing Bugatti Rimac. With the strong foundations their support has provided, we now have a structure that allows us to execute even faster on our long-term vision. We look forward to our collaboration with our new partners.”

New ownership structure for Rimac Group

HOF Capital will also become the largest shareholder in Rimac Group alongside founder Mate Rimac. The new structure is expected to support future growth for both Rimac and Bugatti. The financial terms of the transaction have not been disclosed. Completion is expected before the end of 2026, subject to regulatory clearances.

Porsche to refocus on core business

Porsche said the move is part of a broader shift to focus on its core operations. “In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future,” said Porsche CEO Michael Leiters. “And as an early-stage investor of Rimac Group, Porsche made a significant contribution to developing Rimac Technology into an established Tier-1 automotive technology company.”

“With the sale of our stake, we demonstrate that we will focus Porsche on the core business,” he added. 

The decision comes after a challenging year for Porsche, with its operating profit falling by 93 percent. The company is also evaluating changes to its product strategy. “We are considering the expansion of our product portfolio in order to grow in higher-margin segments. In doing so, we are looking at models and derivatives both above our current two-door sports cars and above the Cayenne,” Leiters said.