Thursday 7th July 2011

Update: CPP Confirms Zagato Buyout In Progress

Coventry-based specialist coachbuilder adds to its portfolio

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Update:
CPP has confirmed the truth of this story - it is in the process of acquiring Zagato. This is what they told us:

“CPP is in advanced stages of completing the acquisition of the Zagato automotive designstudios.  The acquisition process is expected to be completed over the next four-to-sixmonths, pending approval by all interested parties.  Further details will follow only whenthe acquisition is complete.

CPP’s proposed acquisition of Zagato is part of its strategy to become a world-leadingspecialist automotive group, based in Coventry.  In January 2011, CPP completed theacquisition of Bowler – the manufacturer of rally raid racers based on Land Rovertechnology.  In February 2011, CPP signed a Memorandum of Understanding with regardto the acquisition of the Spyker sportscar company.”

Original PH article below:

It seems that a new force in the British specialist automotive industry is emerging, as CPP (nee Coventry Prototype Panels) has made another new purchase (at least if the rumours whizzing around the internetweb are anything to go by): CPP might just have bought-out Italian design house Zagato.

These are most definitely as-yet-unconfirmed rumours (the PH office payphone has been constantly in use while we've been trying to find out more) but, if true, would add a significant dollop of engineering and design expertise to a portfolio that already (almost) includes Spyker (the on-road supercar maker) and Bowler (the off-road supercar maker).

It would also make a pretty sensible fit, as CPP already builds specialist cars for Aston Martin (think One-77), and next on Aston's specialist list is of course a V12 special - designed by Zagato.

We'll bring you more info when we can, but for now we'll leave you to muse on the intriguing possibility of one of the world's most glamorous design houses finding itself being run from Coventry...

 

 

[Beefmeister]

Brilliant news if this is true. CPP are a great company, and Zagato would be in good hands.

Next up, they'll be bidding for Aston Martin....

[Denorth]

Can that russian guy, who is behind CPP, do real business? Hope so.

[filski666]

that'll be interesting - one of the stalwarts of Italian Design houses located next to a large Matalan.....

[MotorsportTom]

filski666 said:

that'll be interesting - one of the stalwarts of Italian Design houses located next to a large Matalan.....

Apparently CPP are trying to secure part of browns lane (where jaguar used to be) to build a new unit of some sort on there to operate from.


You heard it here first

[elisek]

donno
but ZAGATO is always full of debits.

[geoffracing]

That silver Aston is one of the most terrific cars I've ever seen!
SU-PERB.

[Riggers]

geoffracing said:

That silver Aston is one of the most terrific cars I've ever seen!
SU-PERB.

Not an Aston, that - It's a Perana (see here: http://www.pistonheads.com/news/default.asp?storyI...

[toppstuff]

I am not surprised. It has always been a puzzle how one of the greatest car design houses has been financially skint from time to time. They may have a great name and some nice history but the management appears to have been awful...

Consequently they are a great brand for someone with $$$$ to pick up. I bet they did'nt pay much either..

[tedzwedz]

toppstuff said:

I am not surprised. It has always been a puzzle how one of the greatest car design houses has been financially skint from time to time. They may have a great name and some nice history but the management appears to have been awful...

Consequently they are a great brand for someone with $$$$ to pick up. I bet they did'nt pay much either..

Funny how these things go full circle. Most people have probably forgotten that Victor Gauntlett (owner of Aston martin in the 1980's ended up buying Zagato at the time of the 1986 Aston Martin V8 Vantage Zagato model, they did the deal then revealed that the were almost bankrupt ao he had to buy them to make the model. Im not sure when he/Ford sold it

[Frimley111R]

elisek said:

donno
but ZAGATO is always full of debits.

'Debts' I think you mean!

[elisek]

Frimley111R said:

'Debts' I think you mean!

yes yes
sorry typing

[sparkey]

Zagato is already part of CPP and CPP/Zagato have already made the first two of the V12 Zagatos. Octane has a nice article on it this month (out several weeks ago!)

[danielhodgkiss]

sparkey said:

Zagato is already part of CPP and CPP/Zagato have already made the first two of the V12 Zagatos. Octane has a nice article on it this month (out several weeks ago!)

Yes, it was in EVO issue 159, p122 also.

[B10]

Shame that they were not successful in buying Bristol.

[Pistachio]

They also did the Zagato C12 Spyker which ties the ends up nicely ….

[steviegunn]

B10 said:

Shame that they were not successful in buying Bristol.

Ooh a Zagato Fighter, must not think dirty thoughts, too late

[mikefacel]

steviegunn said:

Ooh a Zagato Fighter, must not think dirty thoughts, too late

What, this one?

[Dangermouse78]

CPP is run/owned by a Russian? Well they better give up now then. Look what happened the last time a Russian took over a well loved Marque......

[dan tournay]

Dangermouse78 said:

CPP is run/owned by a Russian? Well they better give up now then. Look what happened the last time a Russian took over a well loved Marque......

What, Chelsea?

whoops not a marque but you know what I mean

Edited by dan tournay on Wednesday 6th July 22:48

[Karllos]

CPP has built 3 Zagato Astons so far, and the acquisition is much further along than they're saying going by the conversation I had with them yesterday. Exciting things to come!!