Lookers has opened its £6 million new and used vehicle multi-franchise hub in Middlesbrough. As well as multi-franchise vehicle sales, the centre will focus on all-electric driving including specialist servicing, maintenance and body repair. The site also houses Ford and BYD dealerships. Lookers’ investment in the site will contribute towards Middlesbrough Council’s ambition of becoming […]
Read More →Mark Raban has resigned as CEO of Lookers and will leave the group at the end of this year. The announcement comes as the retailer has also announced around 200 redundancies linked to the privatisation of the business. A spokesman for Lookers said: “A number of people linked to the central support function of running […]
Read More →Lookers’ £6m Teesside Car Hub used car retailer has been given the green light from Middlesborough Council. It is set to open later in 2023 and will create additional jobs, taking its staff numbers in the area to around 200. The 25,000 sq/m site, located alongside its new BYD franchise, will also accommodate a standalone […]
Read More →The £504m takeover of Lookers by Global Auto Holdings got the go ahead this week at a shareholders meeting. Global is paying 130p per share for the company after it revised the offer upwards from 120p, which had been rejected. In June Canadian dealer group Global Auto Group, a sister company of Group Auto Holdings, […]
Read More →Lookers has reported a drop in underlying profitability and gross margins in the first half of 2023 following record figures for the past two years. The group’s underlying profit figure was down £1.1 million at £46.1m on a turnover that was up 8.0% at £2.42 billion. Lookers, which is currently the subject of a takeover bid by Canadian […]
Read More →Canada’s Alpha Auto, through its UK entity Global Auto Holdings, has increased its takeover offer for Lookers to 130p a share. Global Auto Holdings, referred to as Bidco, has also announced that the increased offer will switch to a takeover offer for Lookers. Today’s takeover offer differs from the original scheme offer in the way voting for […]
Read More →Constellation, through its Cinch Holdco UK business, has withdrawn its support for the Alpha Auto’s bid for Lookers and now intends to vote against the deal. Constellation, parent company to Marshal Motors, Cinch, BCA and We Buy Any Car, owns a 19.2% share in Lookers. Canadian firm Alpha Auto Group initially made an offer of 120p a […]
Read More →Ian Filby is to step down as Pendragon chair after less than two years in the role. The search for a successor is now underway. Ian, a veteran Boots executive and former chief of DFS, will remain in his non-executive chairman role until a replacement is found. The directorate change was announced ahead of Pendragon’s […]
Read More →Lookers is set to be bought by Canada’s Alpha Auto Group, via a UK entity called Global Auto Holdings, in a £465m deal. The deal by the privately owned Canadian retailer network was first announced by Sky News and has been confirmed this morning. It is an all-cash offer for Lookers by the bidding vehicle […]
Read More →Chinese brands Great Wall Motor and BYD will kick off their European push this week at the 2022 Paris Motor Show. The GWM Ora Funky Cat will be shown, and Great Wall executives say they will reveal further European expansion plans for both Ora and Wey brands at the show. Peter Vardy and Lookers have […]
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