BRD Retail has split Burton Kia from dealer group Inchcape in a management buyout worth a ‘substantial’ amount.
The newly created company began trading as Burton Kia just one day after the dealership was placed in the hands of the new owners - co-directors Adam Redpath, David Deans and Ian Bullock, who was the former Inchcape franchise’s general manager.
Bullock said: “It’s safeguarded the future of the business and, more importantly, the immediate future of our colleagues. We feel very proud of that.”
Inchcape had previously revealed plans to close 11 non-core or loss-making dealerships.
Burton Kia is to continue selling used and new Kias, as well as offering non-franchise vehicles, servicing and repairs. The dealership has yearly sales of £10 million.
The deal - which has secured 26 jobs - followed Inchcape’s decision that Kia, along with its Honda, Mitsubishi, Mercedes trucks and Volvo businesses, were non-core.
Bullock said “It’s my total belief in the Kia franchise and network, and just as importantly the staff we have here… that has created a family-type business which was part of a plc but is now a one-off.”