Key Takeaways
- • Porsche has agreed to sell its 45% stake in Bugatti Rimac and 20.6% stake in Rimac Group to a consortium led by HOF Capital, with transaction agreements signed on April 24, 2026, and completion expected before year-end subject to regulatory clearance.
- • The acquisition consortium includes New York-based HOF Capital as the lead investor, Abu Dhabi-based BlueFive Capital as the largest investor, and a group of institutional investors across the U.S. and EU, with HOF Capital becoming the largest shareholder alongside founder Mate Rimac.
- • The divestment marks the end of Volkswagen Group's nearly three-decade influence over Bugatti, which began with the conglomerate's 1998 acquisition of the French hypercar manufacturer and its 2021 formation of the Bugatti Rimac joint venture with Porsche.
- • Porsche CEO Dr. Michael Leiters framed the sale as part of a strategic refocus on "core business" amid reported profit declines of over $5 billion year-over-year in 2025, signaling cost-cutting measures across the German automaker's portfolio.
- • Financial terms of the transaction have been agreed to remain confidential except where disclosure is required under applicable financial reporting obligations, with regulatory clearances required for completion.
Summary
Porsche has reached an agreement to fully divest its equity holdings in both Bugatti Rimac and Rimac Group to an international consortium led by HOF Capital, a New York-based investment firm. Transaction agreements were signed on April 24, 2026, with completion expected before the end of 2026 pending customary regulatory clearances. The sale encompasses Porsche's 45% minority stake in Bugatti Rimac—the joint venture established in 2021 with Rimac Group holding 55%—as well as its 20.6% stake in the broader Rimac Group.
The acquiring consortium is structured with HOF Capital serving as lead investor and strategic partner, supported by BlueFive Capital, an Abu Dhabi-based firm identified as the largest investor, alongside a broader group of institutional investors from the U.S. and EU. Following transaction completion, Rimac Group is expected to assume full control of Bugatti Rimac while establishing a strategic partnership with HOF Capital and BlueFive Capital. HOF Capital will join Rimac Group as the largest shareholder alongside Mate Rimac, the founder and CEO of Bugatti Rimac, creating a consolidated ownership structure centered on the Rimac ecosystem.
The divestment terminates nearly three decades of Volkswagen Group involvement with Bugatti, which began with the conglomerate's acquisition of the French hypercar brand in 1998 and extended through Porsche's joint venture formation in 2021. Porsche CEO Dr. Michael Leiters stated that the sale demonstrates the company's commitment to "focus Porsche on the core business." This positioning reflects significant financial pressures on the German automaker, which reported profit declines exceeding $5 billion year-over-year in 2025, prompting strategic portfolio realignment. Mate Rimac acknowledged Porsche's contribution in establishing Bugatti Rimac, noting that the "strong foundations" provided create a structure enabling faster execution of long-term strategic vision under new ownership.
The parties have agreed to maintain confidentiality regarding financial terms except as required by applicable financial reporting standards. Completion remains subject to customary regulatory approvals from relevant authorities across jurisdictions where consent is required.
The acquiring consortium is structured with HOF Capital serving as lead investor and strategic partner, supported by BlueFive Capital, an Abu Dhabi-based firm identified as the largest investor, alongside a broader group of institutional investors from the U.S. and EU. Following transaction completion, Rimac Group is expected to assume full control of Bugatti Rimac while establishing a strategic partnership with HOF Capital and BlueFive Capital. HOF Capital will join Rimac Group as the largest shareholder alongside Mate Rimac, the founder and CEO of Bugatti Rimac, creating a consolidated ownership structure centered on the Rimac ecosystem.
The divestment terminates nearly three decades of Volkswagen Group involvement with Bugatti, which began with the conglomerate's acquisition of the French hypercar brand in 1998 and extended through Porsche's joint venture formation in 2021. Porsche CEO Dr. Michael Leiters stated that the sale demonstrates the company's commitment to "focus Porsche on the core business." This positioning reflects significant financial pressures on the German automaker, which reported profit declines exceeding $5 billion year-over-year in 2025, prompting strategic portfolio realignment. Mate Rimac acknowledged Porsche's contribution in establishing Bugatti Rimac, noting that the "strong foundations" provided create a structure enabling faster execution of long-term strategic vision under new ownership.
The parties have agreed to maintain confidentiality regarding financial terms except as required by applicable financial reporting standards. Completion remains subject to customary regulatory approvals from relevant authorities across jurisdictions where consent is required.
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