Inchcape Retail is on the acquisition trail with the buyout of the Hancock Ford dealership in Farnborough from the receivers Grant Thornton and the purchase of the Volkswagen businesses in Bridgnorth and Telford from the Enterprise Group.
It is also building two Toyota and Lexus centres on Derby Road, Nottingham. The two franchises have been trading under the Mann Egerton banner in Basford in the same building. When the two centres are completed in June they will become Inchcape Toyota - Nottingham and Lexus Nottingham.
Located in Elles Road, the Hancock Ford site will be rebranded Inchcape Ford - Farnborough. Hancock Southern is a subsidiary of HMG Holdings which went into receivership in March.
The acquisition brings the total number of Inchcape franchised dealerships in the region to seven. The Farnborough site is expected to add about 1,400 new, used and van sales per annum to the group sales performance.
Paul Lingard remains the dealer principal.
The acquisitions from the Enterprise Group brings the number of Volkswagen businesses from three to five. It is expected to add around 400 new and used units per annum to group sales.
Inchcape Retail comprises of 52 retail outlets representing 17 brands.
Holden Motors is to relinquish its Volvo franchise to become a MG Rover dealership, while competitor Mann Egerton is to give up the MG Rover franchise to become a Volvo dealership.
Once the change-over – on July 1 - is complete The Mann Egerton dealership, owned by Inchcape Retail, will be its first Volvo outlet in the UK.
Inchcape Retail franchise director John Day said: “Last year Volvo had its most intensive period ever launching new models and there's still more to come. This will be the first territory where the three major franchises (Jaguar, Land Rover and Volvo) in Ford's Premier Automotive Group, will be located on one site.
“This move also reflects Inchcape Retail's ongoing strategy of investment in specialist marques within key geographical territories. We will rename the business Inchcape Volvo.”
Holden Motors' general manager James Jones explained the change: “We've had many years of success with Volvo. However, you have to be prepared to adapt to changing markets. MG Rover has gone from strength to strength, continuously improving its products.”