Marshall Motor Group has dispensed with its Toyota franchises in Peterborough and King’s Lynn as Steven Eagell moves in to expand its network.
Signs were exchanged at the two East Midlands sites this week after terms were agreed between the two groups, with Steven Eagell taking its Toyota concern to ten sites with completion of the deal.
While no official statement has yet been issued each party Steven Eagell have begun a recruitment drive for staff at the sites on Mallory Road, Peterborough, and Scania Way, Kings Lynn.
A recruitment day for staff in sales, service and parts, workshop and driving roles will be held at the Peterborough site on April 8th.
Steven Eagell is the UK’s largest independent Toyota franchised dealer group. It has existing sites in Bedford, Aylesbury, Watford, St Albans, Northampton, Milton Keynes, Luton and Letchworth.
The AMi database shows that the business recorded a £119,546,000 turnover in 2015, up from £94,885,000 in 2014 and employed 259 staff.
Last week Marshall chief executive Daksh Gupta gave AM an upbeat appraisal of the new car market as the company reported record results for 2015.
For the year to December 31, revenue was up year-on-year by 13.5% to £1.232 billion and profit before tax 21.4% to £15.8 million.
Gupta (pictured) said that the group was benefiting from the strong market and will continue to prosper, adding: “Our numbers were very strong.”
In November last year Marshall bought SG Smith for £24.4m.
It gave the group an extension with one of its key franchise partners, Audi, as well as strengthening its geographic representation in the UK with sites in Wimbledon, Coulsdon, Bexley, Beckenham and Croydon.