Porsche to exit Bugatti Rimac, HOF Capital-led consortium to take over stakes

Porsche will exit Bugatti Rimac and Rimac Group, selling its stakes to a consortium led by HOF Capital, signaling a strategic realignment toward core operations.

Porsche has agreed to sell its entire equity holdings in both Bugatti Rimac and Rimac Group to an international consortium led by HOF Capital. The transaction agreements were signed on April 24, with completion expected before the end of 2026, subject to customary regulatory approvals.

The deal marks Porsche’s complete exit from its investments in the Croatian EV and hypercar ecosystem. The Stuttgart-based automaker currently holds a 45% stake in Bugatti Rimac — a joint venture formed in 2021 with Rimac Group — as well as a 20.6% stake in Rimac Group itself.

As part of the agreement, the HOF Capital-led consortium, which includes BlueFive Capital as its largest investor alongside several institutional backers from the US and Europe, will acquire Porsche’s stakes. Following the transaction, Rimac Group will assume full control of Bugatti Rimac and enter into a strategic partnership with HOF Capital and BlueFive Capital to support future growth.

Additionally, HOF Capital is set to become the largest shareholder in Rimac Group alongside founder and CEO Mate Rimac, further strengthening its influence in the high-performance EV and hypercar space.

Commenting on the development, Michael Leiters, CEO of Porsche AG, said the move reflects the company’s intent to sharpen its focus on core operations. He highlighted Porsche’s role in establishing Bugatti Rimac and supporting Rimac’s evolution into a Tier-1 automotive technology player.

Mate Rimac acknowledged Porsche’s contribution, noting that the partnership laid a strong foundation for Bugatti’s future and enabled Rimac to accelerate its long-term vision. He also expressed optimism about collaborating with the new investors.

Hisham Elhaddad, co-founder and managing partner at HOF Capital, described Bugatti as a brand where heritage and innovation coexist, adding that the consortium aims to balance growth with craftsmanship. Meanwhile, Hazem Ben-Gacem emphasized Bugatti’s legacy of design and performance, calling the investment a long-term commitment beyond financial returns.

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