Automotive dealership Inchcape has acquired a majority shareholding in its Lithuanian counterpart, UAB Vitvela, for £13 million.

The deal will give Inchcape a 67% stake in UAB and access to the Mazda retailing business in the country.

The acquisition will also give Inchcape almost 20% of the Lithuanian automotive market, where it already has a majority of Hyundai retail in the country.

Following completion of the transaction, London-based Inchcape will have integrated distribution and retail business for Mazda, Ford and Mitsubishi in Lithuania.

“The Lithuanian market is rapidly increasing in size and this is an appropriate time for us to enter this new market to achieve scale advantages with a respected partner,” said group chief executive Andre Lacroix.

The company is seeking expansion into all emerging markets such as Russia, China and the Baltic states.

Inchcape has some 12,000 staff and an annual turnover last year of £4.84 billion.