Cambria buys Summit

Cambria Automobiles has acquired 15-site Summit Auto Group from Japanese business enterprise Sumitomo for an undisclosed amount.

The deal, which was signed on December 31, 2007, takes Cambria to 19 sites and will boost turnover to £275m-300m this year, taking it into the AM100 top 30. It means Cambria has beaten by a year its target of becoming a top 50 retail group by the end of 2008.

Speaking to AM, Cambria chief executive Mark Lavery said: "This takes us to a different level.

"Summit has great brands, locations and a customer service focused culture which fits well with Cambria."

Read this story in full in the January 11 issue of AM. To subscribe to AM magazine click here or call 01733 468659.