The £29.8m deal sees European Motor Holdings’ turnover rise from £529m to £809m, while Smith Knight Fay will no longer be listed. As a result, all groups below No29 will move up one place, and Springfield Motor Group returns to the top 100.
Springfield’s re-entry means the new AM100 threshold will now dip from £100m to £97m turnover. EMH, in effect, rises to No11 in the current list. The acquisition adds 17 sites, taking its portfolio to 39 dealerships.
Toyota has confirmed that EMH will be allowed to retain Smith Knight Fay’s three Toyota outlets and one Lexus showroom while it carries out a review of the situation. A final decision will be made before the end of the month.