The former CD Bramall boss will join Lookers’ board following its AGM next month.
The 24.4% stake he has bought from Hamilton Finance Ltd, a GE Corporation subsidiary, means Pendragon will now need its bid approved by the Lookers’ board to succeed. However the board has already rejected its offer.
In a statement, Bramall says: "I regard this as a very good investment for the family in a well-run group where there is substantial scope for growth and I look forward to working with my new Board colleagues to achieve this objective. Obviously I will not be accepting the existing Pendragon offer in relation to the above holding."