VERTU Motors’ expansion continues apace with the acquisition of a multi-franchise dealership in Edinburgh, Scotland from the administrators of Leven Cars Group.
The purchase of the Kia, Suzuki and Mitsubishi leasehold dealership in Edinburgh represents further expansion of the Group’s Macklin Motors brand in Scotland and complements the Group’s existing nine outlets in Scotland comprising the Nissan, Ford, Mazda, Peugeot and Hyundai brands.
The acquisition brings Kia, Suzuki and Mitsubishi as new franchises to the Group operations and these franchises are expected to provide further growth opportunities going forward. Marketing and operational synergies are anticipated to arise as a result of adding additional scale to the business in Scotland.
It is planned to build a new multi-franchise dealership on land already purchased by the Group in Edinburgh within the next two years.
Vertu Chief Executive Robert Forrester said: “This acquisition out of administration represents value, and brings the Kia, Suzuki and Mitsubishi franchises with growth prospects to the Group.
“The addition of these outlets augments the Group’s representation in Scotland under the Macklin Motors brand and expands our operational footprint in Scotland. In the process, we have also secured over 50 jobs which were under threat.
“The deal goes to the heart of the Group’s strategy to continue to grow a significantly scaled franchised dealership Group and to allocate capital in order to generate increased cashflows and returns for shareholders in the medium term.”
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