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Lookers Renault franchise grows

Lookers plc has completed the acquisition of the Renault franchise for south Manchester and central Cheshire with the purchase of Jackson & Edwards Ltd from January 2, 2003.

The package includes Jackson & Edwards dealerships in Altrincham, south Manchester, and Northwich, as well as the company's Renault car rental business.

Fred Maguire, Lookers plc chairman, says: "These new dealerships are a natural fit with our existing operations in Chester, Macclesfield and Stockport and complete a wide market area for Lookers in south Manchester and Cheshire.

"Renault is a highly successful franchise for us. They are a progressive car manufacturer, at the cutting edge of design and safety technology, and with a great range of cars including the new Megane, recently voted European Car of the Year."

The new acquisition takes the total number of Renault dealerships in Lookers to 13, making the group one of the largest Renault retailers in the UK. The two new dealerships will add around £15m to annual turnover and are expected to sell around 1,200 new cars a year.

The purchase of Jackson & Edwards is Lookers' second significant acquisition in two months, following the takeover of the Volvo franchise for central and south Essex last December. That deal gave Lookers its first Volvo dealerships and strengthened relationships with Ford's Premier Automotive Group, for which the company already represents Jaguar, Land Rover and Aston Martin.

Fred Maguire: "Lookers is entering 2003 in excellent financial shape and the outlook is encouraging. We are continuing our policy of developing our business with chosen manufacturer partners and we hope to significantly expand the company during the coming months."



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