Now Motor Retail has acquired Ken Brown Motors’s Kia franchises in Stevenage and Harlow, for an undisclosed sum.
The deal marks Now’s first venture outside of the Vauxhall brand. Now Motor Retail also operates eight Vauxhall dealerships; six across North and West London and two in Swindon and Marlborough. UHY’s automotive team, led by David Kendrick, advised the vendors, Ken Brown Motors, on the sale.
Ken Brown Motors is a long established, second generation business which operates the Kia franchise in Stevenage and Harlow. Peter Brown, the majority shareholder of the business will retire post sale. The deal broadens Now’s offering and helps the group mitigate against any uncertainty around the Vauxhall brand.
Jon Taylor, Managing Director of Now said: “We have been considering expansion outside of our existing brand portfolio for some time and this acquisition fits the criteria we were looking for perfectly. Kia is a brand on the up and with the strong reputation that the Ken Brown business already has we will look to expand on this. The businesses both have strong and stable teams which will certainly compliment the wider group.”