Waberer’s International Plc. has acquired a 51% stake in the Hungarian passenger transport company Pannon-Busz-Rent Kft., the company announced on Tuesday. The transaction aims to diversify Waberer’s activities and leverage synergies between the freight and passenger transport sectors.
Pannon-Busz-Rent Kft., which has been operating for over twenty years, is a key player in Hungary’s road passenger transport sector. The company primarily provides employee shuttle services for industrial and agricultural businesses, as well as train replacement and chartered bus services.
Its fleet consists of approximately 170 buses, some of which are company-owned while others are leased. In 2023, the company generated revenue of HUF 4.4 billion, with an after-tax profit exceeding HUF 500 million.
According to the agreement, the founder and owner of Pannon-Busz-Rent Kft., Zoltán Kölbl, will retain a 49% stake for another two years, during which time the parties will jointly develop the company.
“Waberer’s management is constantly seeking further growth and diversification opportunities. With this transaction, we are entering a new market segment—the road passenger transport sector. We can capitalise on significant synergies between our existing freight transport fleet and the operation of the passenger transport fleet. These may include, but are not limited to, vehicle, fuel, and toll procurement processes, fleet financing, vehicle and tyre servicing, as well as driver management,” said Zsolt Barna, Chairman and CEO of Waberer’s International.
According to Zoltán Kölbl, owner of Pannon-Busz-Rent Kft., the acquisition reflects recognition of the company’s professional achievements to date:
“The fact that Hungary’s largest logistics services provider has chosen Pannon-Busz-Rent Kft. as its entry point into the bus market is also a testament to the outstanding professional work of my colleagues. I am confident that, with our experience in passenger transport and Waberer’s large-scale corporate service structure, we will ensure further professional development for our clients and passengers.”
The transaction is expected to be completed by the end of the first half of 2025, subject to the fulfilment of the purchase agreement’s terms and the completion of necessary regulatory approvals.