Benfield Motor Group has taken over Audi franchisee Colebrook and Burgess in a deal which will add £140m turnover to its business.
The acquisition includes Audi centres in Newcastle, Tyneside, Wearside and Teeside plus a bodyshop, preparation centre and head office facility. All traded as North East Audi.
All 279 Colebrook and Burgess employees have transferred to Benfield with immediate effect this afternoon.
Its previous owners and directors, Andrew Maidwell and John Hutton, have sold in order to pursue other interests outside of the motor industry.
The addition means Benfield’s group turnover will now be more than £500m and its dealership network now numbers 35 across the north-east of England, Teesside, Yorkshire, Cumbria and south-west Scotland.
Mark Squires, Benfield’s chief executive, said it was a “very significant development” in the growth of Benfield Motor Group.
“The Audi franchise is arguably the most valuable franchise in motor retailing and is currently the fourth largest distributor in the UK.
“Colebrook and Burgess is a well run business with family values and a positive and proactive approach to customer service.
“This is a natural fit for Benfield. It’s a highly regarded business with great people and there are obvious synergies between the two businesses which we will explore in the coming months ahead”, he added.
Benfield managing director Nigel McMinn (pictured) is now in operational control of the new businesses.
Andrew Maidwell, Colebrook and Burgess’ managing director, said he had given careful consideration to the best options for the business and its employees, and considered Benfield Motor Group was an independently family-owned business with very similar values to his own.
“From a personal point of view it was very important to me that the new owners of the business would be capable of developing the business further and continue to recognise the values of our staff and North East Audi well into the future,” Maidwell added.
Locations for Benfield (red) and Colebrook (green). Source: AMi