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Vertu continues expansion in Scotland

Vertu Motors has bought another dealership in Scotland, its seventh business in the country.

The group, currently the 8th largest UK dealer group, has bought Dunfermline Peugeot from Hardie Motor Group.

It brings Vertu's representation of Peugeot up to 8 sites nationally.

Vertu said the deal will not cost more than £300,000, mostly for stock, and the business occupies a leasehold property.

Last year Dunfermline Peugeot has sales of £3.5m and made a small operating profit, said Vertu, which expects it to be profitable in the first full year of ownership.

Vertu's network now numbers 69 dealerships. It already has a Dunfermline Auto Centre business near to the acquired business.

Robert Forrester, chief executive, said:”We are delighted to expand further with Peugeot, which we believe is very well positioned with its exciting and expanding product range. This new Peugeot dealership is excellently located, and adds to our brand’s presence in Scotland following our purchase of Paisley Peugeot in April.

“The new business will trade as Macklin Motors, and represents our seventh sales outlet to be purchased in Scotland during 2010. In addition, we will shortly be rebranding the Dunfermline Auto Centre business purchased in January 2010 to the Macklin Motors name.

 “The group has made a substantial number of acquisitions in the last year, which have been integrated into the Vertu Motors management and systems platform, and are on track to provide a significant boost to the group’s long term profitability."

 

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