The deal means the addition of Peugeot showrooms in Leeds, York and Huddersfield. Each has been rebranded Evans Halshaw, the group’s trading name for its volume franchises.
Pendragon chief executive Trevor Finn says the increase to turnover will be “small in relation to the group”, but it importantly increases its scale with the Peugeot brand.
Finn says the MSF business is in healthy condition generally. “There will be a bit of work needed but fundamentally the franchise is profitable, and only a few structural issues need addressing,” he adds.
The acquisition was completed in mid-December, around six weeks after an approach to Pendragon by Peugeot on behalf of MSF’s owners, who were seeking to exit motor retail.
Pendragon’s other Peugeot outlets are in Blackpool, Darlington, Edinburgh, Stourbridge and West Bromwich.
Last week Pendragon sold its Stratstone Land Rover outlet in Luton to Perrys Motor Sales, increasing Perry’s representation of the 4x4 brand to three sites. Perrys managing director Ray Sommerville says he hopes to announce other acquisitions shortly, and is looking for opportunities to increase representation in suitable areas.
That sale resulted from an undertaking with the Office of Fair Trading to dispose of four dealerships following Pendragon’s takeover of Reg Vardy.
Finn is now in talks to sell three Vauxhall outlets by the spring.