European partnership between Crédit Agricole Auto Bank and Groupe Bénéteau
Signed on the occasion of the Cannes Yachting Festival 2023, an agreement between the Bénéteau Group and Crédit Agricole Auto Bank, the Crédit Agricole Group's financing subsidiary, was made public on October 25. This agreement will result in new financing solutions, both for the dealer network of all Bénéteau Group brands, Beneteau, Jeanneau, Prestige, Wellcraft, Delphia, Scarab, Four Winns, Lagoon and Excess, for the acquisition of their stock, and for yachtsmen. The partnership applies on a pan-European level.
Strengthening our respective offers in Europe and in the boating sector
For Crédit Agricole, the Bénéteau Group is a prime development opportunity in the nautical sector, where it is seeking to enter on a larger scale, in addition to the automotive sector, by relying on solid local roots. Announced as pan-European, the agreement will not conflict with the Bénéteau Group's historic captive with Société Générale, SGB Finance, as Yann Masselot explains: "SGB is only present in 6 European countries. We had been looking for a partner in the other European countries for a long time. We agreed that Crédit Agricole would not be involved in SGB's 6 countries. What's more, with the end of its FCA subsidiary and the takeover of Fiat Chrysler financing within the Stellantis banking structure following the takeover, Crédit Agricole had an operational structure that was interested in the boat, which was a perfect fit."
Deployment begins in Greece, Poland, Portugal and Switzerland.
