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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.

Commenting on the acquisition, Andy Bruce, Chief Executive of Lookers, said, “We are delighted to welcome the Knights team to the Group and are excited to be adding the iconic brands of BMW and MINI to our list of premium marques, offering our customers a wider choice of vehicles. This marks another significant addition to Lookers and demonstrates our focus and commitment on expanding the motor division following the sale of our parts business.

“We continue to see opportunity in the prestige car market as demand increases amongst the UK’s discerning motorists, and have no doubt that the BMW and MINI dealerships will continue to thrive as part of Lookers.

“We believe Knights fits with our key business priority of delivering an even better customer experience; this is a business which we have much admired for its financial and cultural success, and we are excited to work in partnership with the Knights team to deliver more of what our customers want.”

Lookers Managing Director Nigel McMinn added, “We are finally welcoming the BMW and MINI into Lookers, it’s something we have been trying to do for many years. It’s an incredibly hard club to break into and it’s a real accolade for Lookers that we’ve been chosen by BMW and MINI to represent them. Knights is a great business, with an excellent reputation and is highly regarded in the BMW network. It’s a testament to the hard work of everyone in the Lookers group producing such excellent results that have finally resulted in us becoming BMW and MINI dealers. We all look forward to working with them”

Mike Jones, ASE Chairman, who advised the Vendors, said, “This is a significant acquisition for Lookers, bringing their first BMW and Mini dealerships into the group. As a result of the purchase Lookers has filled a gap in its franchise portfolio and now represents all of the large premium marques. I am delighted to see a successful exit for David Vickers and Peter Brookes, who built a high performing dealer group in Knights and it was a pleasure to work with them on this disposal.’’

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