Porsche sells Bugatti Rimac stake to HOF Capital consortium

Porsche sells its Bugatti Rimac and Rimac Group stakes to a HOF Capital-led consortium. The deal marks a strategic shift as Rimac prepares to take full control.

Porsche is exiting Bugatti Rimac and Rimac Group entirely, selling its stakes to a consortium led by HOF Capital. The deal includes a 45% share in Bugatti Rimac and a 20.6% stake in Rimac Group, with completion expected by the end of 2026 subject to regulatory approvals.

This move effectively ends Porsche’s involvement in a project it helped establish in 2021. At the time, Bugatti Rimac was created as a joint venture to shape the future of the Bugatti brand, with Rimac Group holding 55% and Porsche a significant minority share. Following the transaction, control will shift fully to Rimac Group, while HOF Capital and BlueFive Capital become key strategic partners.

The significance of the deal extends beyond a single transaction. Porsche has made clear that the sale aligns with its focus on core operations. This comes against the backdrop of a sharp decline in financial performance: in 2025, operating profit fell to €413 million, and return on sales dropped to 1.1%. Simplifying the corporate structure and divesting non-core assets reflects a broader repositioning effort.

For Bugatti, the development marks another shift in ownership in its long history. The brand was revived by Volkswagen Group in 1998 under Ferdinand Piëch and later integrated into a joint venture with Rimac. Now, strategic control consolidates under the Croatian group that initially entered as a technology partner.

The new ownership structure introduces fresh investors. HOF Capital leads the consortium, with BlueFive Capital as its largest participant. Financial terms of the transaction, including valuation and final ownership distribution, have not been disclosed.

Bugatti’s product roadmap continues to evolve in parallel. The Tourbillon hypercar stands at the center of this strategy, featuring a naturally aspirated V16 developed with Cosworth and a hybrid system with three electric motors. It represents the direction of the brand and is set to be one of the first models developed under the new ownership structure.

The transaction has not yet closed, but its implications are already clear: Porsche is narrowing its strategic focus, while Rimac gains full control of Bugatti, supported by new financial partners and without the involvement of the German automaker.