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Pendragon completes £13.5m American deal

Pendragon is believed to be in the early stages of talks with at least one more high-profile US Jaguar dealership following a £13.5m acquisition in California.

Chief executive Trevor Finn said: “We have no immediate plans to make another acquisition. We are taking one step at a time and it can be a lengthy procedure to buy one of the family businesses which dominate in the US.”

Mr Finn said there was no strategy between Pendragon and Ford Motor Company's various brands for it to expand in the US.

Pendragon has bought £65m turnover Horncastle, whose outlets in Beverley Hills and Santa Monica sell around 900 new Jaguars and 500 new Land Rovers a year.

Horncastle is the fourth largest Jaguar dealership in America, and the country's seventh biggest Land Rover outlet. Last year Pendragon acquired Bauer Jaguar, the third largest Jaguar dealer in the US, with a territory adjoining Horncastle.

Pendragon is the biggest Jaguar retail group in the UK and Germany.

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