Porsche has finalized the sale of its equity stakes in Bugatti Rimac and Rimac Group to a consortium spearheaded by HOF Capital, a New York-based investment firm. The transaction, which includes BlueFive Capital as a major investor, has reportedly generated €1 billion for Porsche. This divestment allows Porsche to concentrate on its core business, particularly after experiencing a significant downturn in operating profit last year, which slumped 93% from 14.1% in 2024 to 1.1%.
Originally, Porsche held a 45% minority stake in Bugatti Rimac, a joint venture established with Rimac Group in 2021, and a 20.6% stake in Rimac Group itself. With the completion of this sale, Rimac Group is set to assume full control of Bugatti Rimac. The new arrangement also establishes a strategic partnership between Rimac Group, HOF Capital, and BlueFive Capital to support future growth. HOF Capital will become the largest shareholder in Rimac Group alongside Mate Rimac, its founder and CEO of Bugatti Rimac.
While the specific financial terms of the deal were not officially disclosed, a Reuters report estimated Bugatti Rimac's valuation at over $1 billion. This sale marks a strategic shift for Porsche, which has been under pressure from the Volkswagen Group to improve profitability and streamline operations. The move is expected to help Porsche focus on higher-volume products like the Macan and various 911 variants, as well as its electric vehicle strategy, as it navigates challenges such as declining sales in China and the impact of tariffs.
