Mercedes has acquired luxury car part supplier Lidl for $8 billion in cash and stock, marking the latest acquisition in a $30 billion, $35 billion and $50 billion global business for the German company.
The deal was announced Monday.
The Lidls brand, which includes its own luxury brands such as the Lamborghini, Aston Martin and Bugatti, has been the most valuable car part maker in the world since 2005, according to Forbes.
Its share price has more than doubled in the last five years to reach more than $1,500 per share.
The company was valued at $18.4 billion in 2018.
It makes a wide range of consumer products and services, including the popular car parts brand Lamborghinis, which it sells in the United States and Canada.
Lidnls said it had agreed to acquire the luxury car products business in order to further grow its global business.
Lids chief executive Thomas Kretschmann said in a statement the Lidles purchase of Lidlo is a strategic decision that strengthens the brand and further strengthens our global competitiveness.
“Our strategic focus will be to continue to expand the product portfolio of Lids,” Kretszmann said.
Liddell was one of the companies LidL acquired in 2015, as it seeks to bring back its core brand, and its luxury car brands have been gaining in popularity.