The group paid £9m in cash for Dutton-Forshaw's Newcastle Jaguar dealership and its Land Rover dealerships in Newcastle, Durham and Stockton.
With six Jaguar sites and eight Land Rover sites, Vardy's share of the two PAG brands' total UK new car sales is expected to exceed six per cent.
Vardy now has 82 retailers and is on course to sign up 85 by the end of the year before hitting its target of 100 dealerships by April 2005.
Chairman Sir Peter Vardy vows not to let momentum slow. “Continued progress will be made in the remainder of the financial year to strengthen our presence in our regions through acquisition,” he says. He is still looking to outlets in the Midlands and the south.
Acquisitions stalled for 18 months prior to revised block exemption being announced last October. Vardy has now bought 15 sites this year.