S. Antiglio, J. de Brabant (PHE): “In 2025, PHE completed five acquisitions and opened in Ireland”

Stéphane Antiglio: We should achieve growth of around +5%, in line with the 5.2% recorded in the fi rst half of the year, and the second half of the year looks set to follow the same path, as we have not experienced any particular setbacks in the second half. The markets in which we operate have continued to perform well. The European market varies from country to country. We are fortunate to be well positioned in Southern European countries that are performing better economically, with very good performances in Italy and Spain. On the other hand, in France and the Benelux countries, there are many uncertainties on both political and economic fronts.

Jeremy de Brabant: This has logically had an impact on these markets. Because of the instability, there is less investment. Finally, Ireland, a country in which we became established this year, is enjoying stability and a healthy economy, so our position is good.

J.de.B.: Our acquisitions obviously represent additional revenue. But above all, we provide these acquired companies with the resources they need to accelerate their growth. Our activities are focused on organic growth and gaining market share.

S.A.: We made two acquisitions in Spain (AD Freco Parts and Auto Recambios Francisco Cerda) and two in Benelux (Autolux and Thijsen Autoparts). We also expanded our European footprint to the Republic of Ireland with the acquisition of Top Part. We hadn't included this country in our plans, but it was a fantastic opportunity to invest in this great company. In addition to its strong market position, Top Part shares our highly operational culture, which is focused on the customer and team motivation. With every acquisition, we aim to maintain this entrepreneurial dynamic. These characteristics are key factors in our decision to buy or not to buy a company. 

J.de.B.: While this acquisition in Ireland was indeed a matter of opportunity, our approach to acquisitions is more about building for the long term. When we enter in a country, we want to be able to play major role. In each of our markets, there is still room for consolidation.

S.A.: 2026 will be difficult in a Western European market that is expected to remain more or less stable, but with disparities between countries. Italy, Spain and Ireland are expected to remain dynamic. Meanwhile, France (the leading PHE market) and the Benelux countries will remain in the doldrums due to political instability and an economy that is struggling to find its feet. As a result, to fuel our growth in 2026, we are relying solely on our own strengths and our ability to gain market share.

J.de.B.: As distributors, we do not feel the effects of the American measures directly. However, equipment manufacturers are likely to be impacted. We are therefore paying close attention to how our partner equipment suppliers are absorbing these crises. On the other hand, the shift in vehicle fleets towards more Asian vehicles, particularly Chinese ones, will have an impact on our product ranges, stocks and supply chains. We are fortunate to work with equipment manufacturers who are well prepared for these changes in the fleet. The key is this close relationship with our suppliers, which should enable us to react and thus avoid any potential disruption to our service.

J.de.B.: It is clear that the Chinese have armed themselves, and with Europe’s help, to take significant market share and establish a lasting presence in the European vehicle parc. For us distributors, this means adapting our product ranges to meet demand for BYD, XPeng, MG, etc. Identifying parts, cataloguing, pricing... it’s not an easy task, but we are used to adapting our collections to the new models that arrive on the market every year. We will undoubtedly have to expand our catalogue, including with other suppliers, to maintain good market coverage.