South coast-based franchised retail group Hendy has bought neighbouring Westover Group for and undisclosed sum. The move means Hendy Group will hit its stated £1 billion turnover target this year.
The deal will add 21 franchise points to Hendy’s existing 38 points taking the total to 59. The group operates franchised retailers in Devon, Hampshire and West Sussex into East Sussex, Surrey and Kent.
Westover represents Fiat, Abarth, Alfa Romeo, Jeep, Renault, Dacia, Jaguar Land Rover, Toyota, Lexus, Nissan, Kia, Hyundai, Lotus and Skoda. Hendy already represents Ford, Kia, Mazda, Honda, MG, Iveco, Renault, Seat, Dacia and Suzuki.
In the most recent accounts, covering 2017, Hendy had a turnover of £533 million and a pre-tax profit of £5.0m. Westover had a turnover of £337m and a pre-tax profit of £5.3m.
Both companies have long histories in the South of England. Hendy was originally founded 160 years ago and Westover first setup in 1923.
Commenting on the acquisition, chief executive, Paul Hendy said: “Westover is a hugely successful group and shares our philosophy of delivering a premium service and putting the customer and its employees at the heart of operations. It’s very much business as usual. The dealerships will keep the Westover name for the immediate future as the business is integrated into the Hendy Group.”
The acquisition means Hendy Group now operates 26 franchises from 83 outlets and reinforces the group’s portfolio in Dorset, where the group already operates truck dealerships.
Westover chairman Peter Wood, said: “After over 50 years in the motor industry I’ve decided it’s time to bow out. Westover has been my passion now for more than 40 years and finding a suitable company to hand it over to which has the same ethos of looking after staff and customers hasn’t been easy. We now believe we have found that. From the beginning of my discussions with Paul Hendy it became clear that the manner and way we operate our businesses was very similar.”
As part of the new structure Paul Dillon, will continue as managing director of Westover.