Vardy acquires Glasgow dealership

Reg Vardy plc has acquired Ian Philp (Glasgow) Limited for £3.96m.

The business operates a Mercedes-Benz franchise in Giffnock to the south of Glasgow. The acquisition will complement the company's existing Mercedes-Benz operation in central Glasgow. This brings the total number of Reg Vardy dealerships to 77.

Turnover of the Giffnock dealership for the year to December 2000, was £17.8 million and profit before tax was £162,000.

Sir Peter Vardy, Reg Vardy chairman, said, “This is a very exciting acquisition, representing further progress towards completing the market area for Mercedes-Benz in the west of Scotland. The company continues to press ahead with its growth strategy with our selected manufacturer partners.”