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What smart money is saying about D’Ieteren Group SABelgium flag

DIE.BR · Consumer Cyclical · Auto - Dealerships · Market cap $10.37B

2 funds in our archive have pitched D’Ieteren Group SA — most recently Ennismore Global Smaller Companies Fund in December 2025.

Company profile

D'Ieteren Group SA, operates as an investment company worldwide. The company operates through D'Ieteren Automotive, Belron, Moleskine, and TVH Parts segments. It distributes Volkswagen, Audi, SEAT, KODA, Cupra, Bentley, Lamborghini, Bugatti, and Porsche brand vehicles, as well as its spare parts and accessories; sells used vehicles; and offers maintenance, financing, and leasing services. The company also provides vehicle glass repair, replacement, and recalibration services under the Carglass, Safelite, and Autoglass brand names; and manages vehicle glass and other insurance claims on behalf of insurance customers. In addition, it offers notebooks, planners, writing tools, bags, and reading accessories, as well as smart writing system and mobile apps. Further, the company distributes aftermarket parts for material handling, construction, and agricultural & industrial equipment. Additionally, it manages real estate assets, including offices, workshops, concessions, logistics centers, residential units, parking lots, and landbanks; reconverts and redevelops sites; and offers real estate advice. The company was founded in 1805 and is headquartered in Brussels, Belgium.

Fund coverage · 2 theses

  • Ennismore Global Smaller Companies Fund
    December 2025

    D’Ieteren Group SA is a holding company whose core asset Belron is set for US volume recovery and offers significant upside versus implied valuation with IPO optionality.

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  • AVI Global Trust 0925
    September 2025

    D'Ieteren is experiencing short-term pressure due to Belron's missed EBIT expectations, but the company is poised for long-term growth with a strong market position and potential IPO, making it an attractive investment.

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