Member Article

Vertu Motors acquire Lancashire group in £8.3 million deal

Gateshead-based automotive retailers Vertu Motors have acquired two dealerships in Lancashire specialising in Land Rover and Jaguar.

The growing dealership group have bought the entire share capital of Hillendale Group Limited which operates a Land Rover dealership in Nelson, near Burnley, and a Jaguar dealership in Bolton.

The £8.2 million deal includes two leasehold properties, one of which is a long leasehold, and will provide Vertu with its first Jaguar franchise ahead of planned product releases from the manufacturer.

It brings the total number of Vertu outlets in the UK to 108, including sales and aftersales.

2013 accounts of Hillendale Group showed a turnover of £34.9 million and EBITDA of £1 million.

Robert Forrester, CEO of Vertu Motors said: “We are delighted to announce the next step in our growth with Jaguar Land Rover and our entry into the Jaguar franchise.

“Land Rover remains one of the most attractive franchises from the perspective of the motor retailer, and we are very pleased to extend the reach of the Group’s highly successful businesses in Leeds, Guiseley and Bradford into Lancashire.

“The Jaguar franchise is set to see substantial new product flow in the next few years following significant product development investment by Jaguar Land Rover. The Group is therefore looking forward to partnering with this exciting British-built brand.”

This was posted in Bdaily's Members' News section by Tom Keighley .