Lookers acquires West Midlands retailer

Auto retailer Lookers has acquired BMW and Mini franchise holder Knights Group. The deal, for £27.2 million in cash, boosts Lookers’ retailer tally to 166 and is the first time the two premium OEMs have been part of the company’s brand portfolio. West Midlands-based Knights Group operates six retail sites in Stafford, Stoke-on-Trent and Crewe.

This deal follows Lookers’ recent £55.4 million purchase of auto retailer Warwick Holdings, which trades as Drayton Group. The current acquisitive activity is a product of Lookers’ decision earlier this month to sell its parts business to Alliance Automotive UK for £120 million.