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Vertu Motors Acquires 4 UK Volkswagen Dealerships for GBP 8.8m
Wednesday 22 January 2020

22 January 2020 - UK automotive retailer Vertu Motors plc has acquired the trade and assets of four Volkswagen Passenger car dealerships in West Yorkshire from Goodman Retail Ltd., a trading subsidiary of Sytner Group Ltd, for approximately GBP 8.8m (USD 11.5m), the company said.
After the acquisition, the group will operate a total of 9 Volkswagen Passenger car dealerships.
The purchase of four substantial Volkswagen leasehold dealerships in Leeds, Huddersfield, Harrogate and Skipton represents further expansion of the group's Vertu Volkswagen brand and complements the group's existing 13 outlets in Yorkshire comprising the Nissan, Renault, Jaguar, Land Rover, Vauxhall and Honda brands.
Total estimated consideration includes a payment of GBP 1.35m (USD 1.75m) in respect of goodwill. The consideration has been settled in cash from the Group's existing resources.
Vertu Motors is the fifth largest automotive retailer in the UK with a network of 127 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell and Macklin Motors brand names.
Details
Date Published: 22/01/2020
Target: Four Volkswagen Passenger car dealerships in West Yorkshire
Country: UK
Deal Size: 11.5m (USD)
Sector: Motor Vehicles
Type: Corporate acquisition
Financing: Cash and Stock
Status: Agreed
Vendor: Goodman Retail Ltd
Buyer: Vertu Motors
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