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Vertu picks up Vauxhall sites from Baker

Vertu Motors has acquired two Vauxhall dealerships from Baker Crewe following the company’s entrance into administration.

Vertu said the consideration comprised £1.3m relating to freehold property and £200,000 to fixed assets.
Vertu has also acquired the working capital of the dealerships, amounting to £2m.

Baker was placed into administration today.

Vertu expects it will take until February 2012 until the two dealerships are “earnings enhancing”.

The group now has nine Vauxhall dealerships and the two new sites will add approximately £14 million to group turnover.

Vertu owns the freehold property and operations of the Crewe Vauxhall dealership and the Macclesfield Vauxhall dealership is leasehold.

Robert Forrester, chief executive, said: “We are delighted to have acquired these businesses in one of our developing geographical areas.

“Vertu will benefit from building a stronger regional concentration and there is considerable scope to integrate these dealerships onto Vertu's scalable platform. This acquisition provides us with excellent opportunities to strengthen the group's relationship with Vauxhall, one of our key manufacturer partners."

Vertu has Stoke Ford, Crewe Ford and Widnes Motor Nation in the region and the new acquisitions complement the group’s existing Vauxhall operations in Chesterfield and Matlock.

 

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