Snows Group acquire Yeovil Seat dealership
Snows Group has acquired Car Shop Ltd.’s Seat dealership on the Lynx West Trading Estate in Brympton Way, Yeovil for an undisclosed sum.
The dealership, Snow’s first in Somerset, is being re-named Snows Seat Yeovil, and joins the firm's existing five other Seat dealerships across the South of England.
Jaguar Land Rover to open Rockar store at Westfield Stratford
Jaguar Land Rover and Rockar (who have to date been working with Hyundai) are to launch a new retail website and a store in the Westfield Stratford shopping complex in East London in a move which the carmaker claims makes it the first premium automotive brand to offer fully-online purchasing.
Lookers acquire Knights Group in £27 million deal
Manchester based, multi franchise dealer group, Lookers plc, have acquired west midlands based Knights North West Limited (Knights Group), in a £27.2 million cash deal.
The purchase of Knights Group introduces BMW and Mini to the Lookers’ portfolio for the first time and takes Lookers to 166 dealerships. Knights Group has six BMW and Mini dealerships in Stafford, Stoke-on-Trent and Crewe.
Acquisition and aftersales strategy driving Marshall H1 results
Cambridge based multi-franchise dealer group, Marshall Motor Holdings plc have released their interim results for the period up to June 30th 2016. The group which operates 103 franchises, representing 24 brands, from 89 sites, revealed first half revenues were up 30.7% and profits before tax up 33.6% thanks largely to the acquisition of the Ridgeway and SG Smith groups.
Marshall CEO Daksh Gupta and CFO Mark Raban have spoken to Motor Trade News revealing some exclusive insights into the dynamics that are driving the business and it’s current growth strategy.
Lookers buy Drayton Group for £55.4 million
With the ink not even dry on the £120 million sale of their parts business, dealer group Lookers have agreed a deal to buy West Midlands based Mercedes-Benz dealer group Drayton Group for £55.4 million.
For the money, Lookers get 7 dealerships in Stafford, Stoke, Shrewsbury, Stourbridge, Worcester, Walsall, and Wolverhampton, which last year produced a turnover of £276m and profit before tax of £5.2m. The move doubles the current number of Lookers Mercedes-Benz locations and takes their national multi-franchise footprint to 160 dealerships.
Lookers sell parts business for £120m to fund more dealership acquisitions
Just days ahead of publishing it’s interim results, dealer group giant Lookers have announced an agreement to sell it’s parts division (FPS, Apec and BTN) to private equity backed aftermarket business, Alliance Automotive Group for £120m which Lookers says it will use to fund more UK dealership acquisitions.