Manheim has acquired an auto auction in Brazil, marking the beginning of Manheim’s growing commitment to establishing a presence in the country.
Manheim has acquired Pacto São Paulo and is developing commercial partnerships with six other auction companies to invest in the region, according to a release from Manheim. Manheim will also invest in technology for the auctions in an effort to modernize the Brazilian auction market.
The São Paulo auction began operations as a Manheim facility on July 3, with Daniel Nunes Romero, Manheim's São Paulo Area CEO, heading up the new venture.
A vehicle inspection process developed by Manheim in Brazil will be introduced to the auction in Brazil, according to International Fleet Word.
The other auctions that Manheim will work include those based out of Brazilian cities Manaus, Belém, Fortaleza, Goiânia, Brasilia, and Salvador. The locations are scheduled to open in August 2017.