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Lookers expands Honda network with Chatsworth acquisition

Lookers has expanded its Honda operations with the acquisition of a major new market area covering Derby and Nottingham.

The group has taken over the privately-owned Chatsworth Honda territory for an undisclosed sum. Three Honda dealerships, in Derby, Nottingham and Mapperley, north Nottingham, will now trade under the Lookers' brand.

Fred Maguire, Lookers' executive chairman, said: "We are delighted to take over this large and important territory which will greatly increase our representation of Honda and take us into a new region of England. Honda has some excellent new products in the pipeline and we look forward to expanding the business with them."

The acquisition of the Chatsworth Honda territory takes the number of Honda dealerships within Lookers to four and a further development on Merseyside later this year will take the tally to five. Lookers acquired its first Honda dealership, in Liverpool, in May last year.

Chatsworth Honda had an annual turnover of £22m and sold around 2,000 new and used cars a year. Lookers has ambitions to grow the business to outperform Honda's increasing market share. The acquisition will take Lookers' annual turnover above £700 million.

The business will be run by Lookers operations director with responsibility for Honda, Brian Schumacker.



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