AM Online

Vertu makes another acquisition

Ilford Vauxhall and Chevrolet has been sold to top 10 AM100 dealer Vertu Motors.

Vertu today bought the leasehold business and assets of the dealership from Crown Motors (Dagenham) for £80,000.

Vertu said the premises are leasehold and no capital expenditure is required, however, further working capital will be injected.

Robert Forrester, chief executive, said: “We are pleased to add a further business to the Group bringing our total number of dealerships up to 52. The Ilford Vauxhall business fits in well with the newly opened Vauxhall dealership in Waltham Cross. In addition, we are delighted to introduce the Chevrolet franchise to the Group for the first time.

“The acquisition strengthens the regional concentration of the Bristol Street Motors brand in the London area and complements our existing businesses in Waltham Cross, Harlow, Bromley and Orpington.”

 

 

In a seperate deal, Vertu has sold a vehicle storage compound in Tewkesbury, Gloucestershire for £800,000. The compound is a non-core freehold property.

 

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