Yeomans acquires 11 Audi, Volkswagen and Skoda dealerships from Helston Garages

Yeomans Group has completed the acquisition of 11 Audi, Volkswagen, VW Commercial Vehicles and Skoda franchised car dealerships from Helston Garages. The deal was closed for an undisclosed sum. This will be the first time Yeomans, who are based in Worthing, have represented Volkswagen Group brands. Yeomans also represents Citroen, DS, Honda, Hyundai, Nissan, Peugeot, Toyota, and Vauxhall.

Turnover

The deal will see Yeomans’ scale to 35 sites which are expected to turnover around £450m next year, rising from around £320m in 2022. All current dealership personnel are expected to transfer to Yeomans.

In all, the transaction includes one Audi (Truro), two Volkswagen cars (Helston and Indian Queens), two Volkswagen Commercial Vehicles (Exeter and Indian Queens), four Skoda (Bridgwater, Exeter, Helston and Indian Queens), two TPS Parts (Indian Queens and Helston) and a Peugeot approved repair site in Helston.

Too good to miss

James Smith, Yeomans Chairman and Managing Director said: “I am thrilled these amazing businesses will be joining our family-run firm. The Helston Garages sites are fantastically run and in great locations and I’m very excited to be welcoming the teams into our family. We have wanted to work with the VW Group for a long time and this was a unique opportunity to join their network in one go. It was an opportunity that was simply too good to miss.”

David Kendrick, partner at UHY Hacker Young, the firm that advised on the deal was equally enthusiastic, commenting: “The acquisition of the Volkswagen Group businesses for Yeomans is a huge move for them as a business. With James as a young CEO, it’s clearly an exciting and expanding business. This is a big opportunity for Yeomans to enter the VW Group network.”