AM Online

Jardine buys Wayside in first major AM100 takeover since the recession

Jardine Motor Group has bought Wayside Group, a deal which will push its turnover above £1.2 billion.

The deal is the first takeover of a major AM100 motor retailer this year, and the most significant single deal since Cambria Automobiles' takeover of Summit Auto in 2008.

It makes Jardine the 6th largest dealer group in the UK, by turnover.

Jardine Motors is a top 10 UK retailer operating 55 predominantly premium and high luxury franchises from 41 sites in the UK, employing 2,000 staff and with a 2010 turnover of £931m. It operates under the Lancaster, Scotthall, Appleyard, Minories, Abridge and Cloverleaf brands.

Wayside is a top 30 UK retailer operating five Audi, six Volkswagen cars, two Volkswagen commercial, three Trade Parts operations, one BMW/MINI and two Toyota plus one Skoda and Seat centred around Milton Keynes, employing 900 staff and with a 2010 turnover of £305m.

Alun Jones, Jardine Motors’ chief executive, said: "The acquisition is a major step forward in delivering our strategic plan of growing the business in the UK and developing our relationships with existing franchise partners”.

“The acquisition of Wayside is a perfect fit for us both in terms of geography and also enhancing our existing representation with Audi and BMW/MINI and giving us more scale with Volkswagen, Volkswagen Commercial Vehicles and Toyota.

"We are also delighted to be forming new relationships with Skoda and Seat.

"We believe we have a lot to offer Wayside and their staff in terms of investment and support infrastructure. Wayside is a very successful regional group with really great people and has a very strong track record of success. ”

Richard Forman, chief executive of Wayside, said “Jardines are acquiring a great business, delivered by talented and dedicated people, which we believe will benefit from the significant resources that Jardines can offer as it continues to grow, providing enhanced opportunities in the future for its staff, franchise partners and other stakeholders." 

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.