Yorkshire-based Meridian Motor Group, which trades as Vantage, has completed its seventh acquisition in six weeks after buying Barnsley Honda for an undisclosed sum.
The latest deal boosts turnover to over £150 million and the acquisition activity sees the group go from outside the AM100 to become a top 70 group.
The Whaley Road Honda site takes Vantage’s group portfolio to 14 sites with 350 employees.
Vantage has been in discussions to take on the Honda franchise for many years and was granted ‘future partner status’ in 2008. However this deal represents the first time that Vantage has had the opportunity to work directly with the Japanese manufacturer.
The dealership will continue as Barnsley Honda in the short term, before rebranding as part of the group’s ‘Vantage’ brand, trading as Vantage Honda – Barnsley.
Mark Robinson, founder and managing director of Meridian, said: “As well as a significant new acquisition to strengthen our business, this deal will represent the first part of what we believe will be a strong and developing relationship with Honda UK.
“We have been in discussions with Honda for several years but this represents the first opportunity we have had to bring these plans to fruition. We are passionate about the brand and excited about their vision for the future.”
This deal follows a summer of acquisitions for Vantage, which has seen seven new sites and three new marques added to the business.
In June the group purchased Sytner’s four West Midlands Lexus and Toyota dealerships and announced the development of a new Kia site in Scarborough. This was followed by the acquisition earlier this month, of Batemans Toyota at Grange-Over-Sands in the Lake District.
The enlarged Group will now sell in excess of 10,000 new and used cars each year, with the Barnsley site expected to contribute annual sales of 600 units.