Vertu has delivered its second highest set of first-half results on record. The group reported an adjusted profit before tax of £28.2 million on a turnover just shy of £2 billion and hinted at more acquisitions. In the same period in 2021, Vertu recorded an adjusted profit of £51.8m on a turnover of £1.92bn. Increased […]
Read More →Auto retailer Lloyd Motor Group has acquired the based retailer Clelands Jaguar. The deal has meant the relocation of the Jaguar business to Lloyd’s existing Land Rover site in Kelso, Scotland. The result is that the family-owned retailer now has the two brands under one roof, as part of the premium OEM’s current corporate strategy. […]
Read More →Auto retailer Progress Group has added a new Skoda franchise to its portfolio. The acquisition of the Harlow-based former Spirit Skoda business, which was part of Group 1 Automotive, sees Progress Group add to its existing Bedford, Letchworth, Northampton and Kettering operations. Located on Edinburgh Way, Harlow, the newly acquired retailer boasts a nine-car showroom, […]
Read More →Vantage Motor Group has acquired the Blackpool-based Citroen auto retailer previously operated by Lookers. Located on Amy Johnson Way, the site’s 20 staff will be retained by Vantage. This latest acquisition joins the auto retailer’s existing Morecambe Citroen franchise in Lancashire, and the retailer expects to sell around 400 new and 600 used cars each […]
Read More →Auto retailer Evans Halshaw has moved to acquire the Lookers-owned Hyundai retailer in Newcastle upon Tyne. Part of Pendragon, Evans Halshaw will operate the Scotswood Road-based business as Hyundai Newcastle, and it joins another recent Hyundai franchise acquisition, Hyundai Leeds, plus sites in Harrogate and Gateshead. The existing Newcastle upon Tyne staff will be retained […]
Read More →Auto retailer Steven Eagell has added the Lexus brand to its business portfolio. The retailer, founded in 2002, has acquired the Hatfield Lexus franchise from fellow retailer Lookers for an undisclosed sum. Originally a product of Toyota’s sponsored retailer programme, Steven Eagell has focused heavily on acquisitions this year, with the Lookers purchase joining three […]
Read More →Auto retailer Snows Group has acquired the Car Shop Ltd’s Yeovil-based Seat business operation. The site, located on the Lynx West Trading Estate in Brympton Way, Yeovil, represents the retailer’s first foray into the region. This move comes after the recent acquisition of the Chichester and Waterlooville-based WKB Toyota retail businesses. Joining five existing Snows […]
Read More →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. […]
Read More →Family-owned auto retailer Snows Group has acquired two new Toyota operations, increasing the company’s network to 30 sites. The Chichester and Waterlooville businesses have been purchased from WKB Group for an undisclosed sum, as Director David Kilby has taken the decision to retire. These new operations join six existing Snows Toyota retailers located across the […]
Read More →Auto retailer Lookers is to sell its parts business to Alliance Automotive for £120 million. Alliance Automotive is part of the larger European distributor Alliance Automotive Group, and has been operating in the UK since 1997, more recently under the Group Auto UK brand. Although still subject to shareholder approval, the deal is likely to […]
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