Porsche has agreed to sell its equity stakes in Bugatti Rimac and Rimac Group to a consortium led by New York-based investment firm HOF Capital, with the relevant transaction agreements signed on April 24.
Porsche and Rimac Group established Bugatti Rimac as a joint venture in 2021 to serve as home to the Bugatti brand. In this joint venture, Porsche holds a minority stake of 45%, while Rimac Group owns 55%. Porsche also holds a 20.6% stake in Rimac Group.
As part of the transaction, Porsche will fully divest its equity stakes in Bugatti Rimac and Rimac Group to the HOF Capital-led consortium. This includes BlueFive Capital as its largest investor, as well as a group of institutional investors across the U.S. and EU.
Following completion, Rimac Group will take control of Bugatti Rimac and form a strategic partnership with HOF Capital and BlueFive Capital to support its continued growth. Additionally, HOF Capital will join Rimac Group as the largest shareholder alongside Mate Rimac, founder of Rimac and CEO of Bugatti Rimac.
“In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future,” Porsche AG CEO Michael Leiters said. “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.”
Subject to regulatory clearances, the parties expect completion to occur before the end of 2026. The sides also agreed to keep the financial terms of the transaction confidential, except where disclosure is required under applicable financial reporting obligations.
