AM Online

Inchcape aquires Robert Smith Group

Inchcape has announced the acquisition of the Robert Smith Group and its subsidiaries.

The new deal means Inchcape will own six Mercedes-Benz dealerships and one Smart dealership.

The cost is approximately £18.1m, subject to finalisation of completion accounts, and includes around £7.2m in respect of goodwill.

With this latest acquisition, Inchcape now has the largest single territory in the UK for Mercedes-Benz with 14 dealerships.

The new Inchcape dealerships are in: Liverpool, Warrington, Chester, Southport, West Kirby and Llandudno. These sites generated a total of 1,100 units sold in 2004.

Peter Johnson, group chief executive of Inchcape, says: “This acquisition demonstrates our commitment to build upon our relationship with Mercedes-Benz, and leaves us well placed to continue delivering on our growth strategy of representing between 5% to 10%of our chosen partners’ national sales volumes.

“Inchcape’s success in building scale contiguous territories should result in enhanced returns for our shareholders whilst, importantly, improving our service levels to our customers.”

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.