Arval and Mercedes-Benz Group enter exclusive talks on Athlon acquisition

Arval and Mercedes-Benz Group have entered into exclusive negotiations for the potential acquisition of Athlon, a move that could reshape the European full-service vehicle leasing market and create a co-leader with a combined fleet approaching 2.3 million vehicles.

Under the proposed transaction, Arval would acquire 100% of Athlon, which currently manages a multi-brand fleet of more than 400,000 vehicles, including 56,000 under fleet management, across 10 European countries. Combined with Arval’s existing fleet of 1.9 million vehicles – which has grown by more than 100,000 units annually over the past three years – the deal would position the enlarged group among the largest players in the sector.

The transaction is aligned with Arval’s strategic ambition to strengthen its footprint in key European markets, notably the Netherlands, France and Germany, where the two companies’ client portfolios are highly complementary. It would also extend Arval’s reach across the United Kingdom, Spain, Italy, Portugal, Belgium, Luxembourg and Poland. In parallel, the deal would reinforce the longstanding partnership between Arval and Mercedes-Benz Group, opening the door to new business opportunities and joint growth initiatives.

Beyond scale, both groups see the potential acquisition as a catalyst for accelerating sustainable mobility solutions and differentiating through high service quality, digital capabilities and enhanced purchasing power.

“This acquisition would be a key step in BNP Paribas Mobility’s strategy,” said Thierry Laborde, Chief Operating Officer of BNP Paribas in charge of Commercial, Personal Banking & Services.

“The future integration of Athlon would make Arval and the BNP Paribas Group a unique and powerful player in the European mobility market. This operation would also strengthen the long-standing relationship built with the Mercedes-Benz Group, which we already support across the various businesses of the Bank.”

Alain van Groenendael, CEO of Arval, highlighted the customer benefits of the potential combination. “We are excited about the opportunity to combine our strengths to offer Athlon’s clients broader access to our services and expertise across Europe,” he said.

“Ensuring the highest quality of service is a core commitment for Arval and we look forward to exploring this opportunity to work together to drive the future of innovative, sustainable, and customer-centric mobility.”

From the seller’s perspective, Mercedes-Benz Group emphasized Athlon’s evolution and future prospects.

“Athlon has been a valuable part of Mercedes-Benz Mobility over the past nine years,” said Franz Reiner, CEO of Mercedes-Benz Mobility AG.

“This step would create new opportunities to further develop the business and offer customers compelling perspectives for the future.”

Athlon CEO Christian Schüler echoed this sentiment, noting the cultural and operational alignment between the companies.

“I am convinced this is an opportunity for both teams to inspire each other and take the customer journey to the next level,” he said, adding that Athlon’s employees would continue to deliver the same high level of service throughout the transition and beyond.

The contemplated transaction remains subject to information and consultation processes with relevant employee representative bodies, as well as regulatory approvals. Completion is expected in 2026. The parties said they will provide further updates as discussions progress.