The sale, which includes the Lortas Road Chevrolet and Mazda franchises and the repair specialist element of its MG Rover franchise in Basford, Nottingham, will let the £140m turnover group concentrate on its 14 remaining sites in Sheffield and Chesterfield.
Stephen Lamb, chief executive of the Gordon Lamb Group and grandson of the founder, told AM: “We went through a period in recent years of opening a new franchise every six months, but the Nottingham operation never fully benefited from the economy of scales enjoyed by the core business, so it was a natural step to restructure. Although this move means we have less franchises, in the long term it will mean greater profitability.”
The deal will add £13.5m to Sandicliffe’s business, taking the group to £148m turnover. Nigel Falkiner, head of marketing for Sandicliffe Motor Group, says the acquisition fits into its geographically focused strategy.
“I can reveal there are other marques in the loop, which I can’t go in to detail about at this time, but it will be happening soon,” he adds.