AM Online

Carcraft in talks to buy CarLand

Carcraft is in ongoing negotiation talks with CarLand about the purchase of its four car supermarkets and two used car showrooms, AM has learned.

Dave Hickey, assistant marketing manager at Carcraft, says that there is currently “no deal in place” but that the family-owned business is interested in the six sites.

A spokesman for Masterlease, part of GMAC and owner of CarLand, confirmed that it recently closed outlets in Manchester and Glasgow, leaving it with used car showrooms in London and Birmingham.

CarLand also has car supermarkets at Cannock in Staffordshire, Chertsey in London, Enfield in Middlesex and Lakeside in Essex.

Its focus has been selling ex-fleet vehicles remarketed from Masterlease.

If the sale went ahead, CarLand’s southern sites would geographically complement Carcraft’s seven locations in Rochdale, Newport, Sheffield, Leeds, Knowles in Merseyside, Darlaston in West Midlands and Birtley in the north east. An executive at a rival used car group says the acquisition could be a good fit for Carcraft. “I heard they’re interested in the southern sites only,” he says.

Last month AM revealed that Masterlease was planning to sell CarLand, a move sparked by General Motors’ decision earlier this year to sell a 51% controlling stake in its finance operation GMAC to a consortium.

Rochdale-based Carcraft was founded in 1951 by Frank McKee and the company remains under the control of the same family.

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


No comments have been made yet.