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EMH acquires Powles

European Motor Holdings has bought Michael Powles for £5.2m.

Powles holds the Bentley franchise in Leicester and its wholly owned subsidiary represents the marque in Norwich.

The purchase price included £4.1m of goodwill. Powles made a pre-tax profit of £1.3m last year, according to unaudited accounts – reversing a loss of £77,000 the previous year. EMH took on its first Bentley franchise in Newcastle last year.

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