AM Online

Glenvarigill purchases Audi sites for £4m

Edinburgh-based Glenvarigill has paid £4m, the largest investment in its history, to acquire two Audi dealerships from the ailing Abercromby company.

The deal means Glenvarigill seizes control of the Edinburgh, Lothian and Central Scotland territory for Audi. Managing director Tim Bartlett believes there is tremendous potential for growth.

“This new partnership with Audi fits in perfectly with our strategy of developing large relationships with important strategic partners,” he said.

“What's equally important is having those relationships in key urban areas which are important to both us and the manufacturer.”

Mr Bartlett believes the two outlets, Edinburgh Audi and Stirling Audi, will turnover £25m, accelerating group turnover to £130m next year.

“We believe we can do 400 new and the same number of used cars in Edinburgh and 200/200 in Stirling,” said Mr Bartlett. “There is a huge untapped market across Scotland for Audi and we intend to satisfy the demand.”

Glenvarigill now plans a period of consolidation, though it has not ruled out further acquisitions if the right deal arises.

“What we don't want to have is 25 branches with 25 carmakers,” added Mr Bartlett.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.